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by gonehome
1403 days ago
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It's also a hedge against local currency failure and can be useful in an emergency situation as shown here. Hoarding USD could also work, but it may be harder to get and it's definitely harder to protect/move in large amounts. |
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Clearly holding Lebanese currency in a bank may not be useful for holding emergency funds. But I do not believe that it's been shown that at point in time an asset which can drop 50% in value over two months, which is the type of acute timeline in which an emergency can occur, and requires transacting into LBP anyways in this scenario, is useful for holding emergency funds either.