3 ms·
People that live in countries with unstable or collapsed currencies use USD (I assume the same of Euros and GBP) as well. Everyone in Cuba wants USD now for e
by dade_ 5y ago
People that live in countries with unstable or collapsed currencies use USD (I assume the same of Euros and GBP) as well. Everyone in Cuba wants USD now for example. It isn’t for money laundering or terrorism, it is for toothpaste and clothing. I imagine Euros are popular in Turkey these days.
- cascom 5y agoI don’t know how you write an article on this subject and don’t mention this. Argentina, Venezuela, etc. USD/EUR cash is how people save/avoid inflation. Plus USD is the official (?) currency in Panama, and de facto currency in half the Caribbean. Not to mention the western governments have been shipping cash by the plane load into conflict zones to pay off war lords and other leaders
- q1w2 5y agoAlso extremely common in Myanmar and much of Africa. It is literally considered the WORLD reserve currency. The more turmoil in economies abroad, the more USD is in demand to replace failing currencies. Turkey is a great example - people were paying a premium on USD just to get their savings out of Turkish Lira a couple years ago.