TIL the Brazilian real has fallen below 6 to the dollar (6.184). Lost 25% of its USD value in just a year. Still a long way from hyperinflation but on a very dodgy path.
Discussion
Yes... (Brazilian tears begin to fall).
Do people use usdt?
That’s a great question! I’ve heard from many Chinese goods importers about their use of USDT. I’m not sure how widespread it is, but I know our Central Bank is concerned about those stable coins. In November, they proposed banning the self-custody of stablecoins in Brazil.
For reference:
It's worse, it increased by almost 1brl in something like 3 months. The central bank sold almost 30bi USD to hold it a little
Interest rates are as high as 16%. The central bank one is 12.25%