23. Bitcoin in Lebanon with Thomas Semaan
The Bitcoin Standard Podcast
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Lebanese Zero - What's Happening?
In October of 2019, when the protests started, the banks shut down for two weeks. After that, they decided to issue a new peg for dollars stuck in the banks. If you have $1,000, you can take them for Lebanese zero, but at the back of 3,900. And this started in 2020. Back then it was the dollar on the black market was around 5,000 Lebanese zero. Now it's back down to 8,500 and 9,000 just fluctuates in this manner.
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