Tether’s USDT Rate Tops 6,000 Guaraníes During Ueno Bank Crisis

The rate for Tether (USDT) in Paraguay rose from 5,692 guaraníes on Oct. 15 to slightly more than 6,000 on Nov. 4, while Ueno Bank customers were unable to withdraw deposits. The interbank dollar rate rose 6.43% over the same period to about 6,060 guaraníes. Ueno Bank was closed, and the Central Bank of Paraguay froze its funds, leaving about three million customers unable to withdraw deposits. Paraguay’s securities regulator suspended redemptions, cash distributions and new subscriptions across 13 mutual funds with Ueno-linked holdings. After Ueno’s solvency ratio fell below half the legal minimum, the central bank took control of the bank amid the Ueno Bank crisis . Initial payouts of up to about $1,700 were planned to begin by Friday, Nov. 6, with smaller depositors prioritized.

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