Any bank deposits would be pound-denominated. This is why many people throughout... | Hacker News

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		rcme on Jan 31, 2023 \| parent \| context \| favorite \| on: Lebanon to devalue currency by 90% on Feb. 1, cent... Any bank deposits would be pound-denominated. This is why many people throughout the world keep their money in wads of U.S. dollars under their mattress.

vintermann on Jan 31, 2023 [–]

Against an official devaluation like this that does little good, because they can just invalidate old notes and issue new ones.

rcme on Jan 31, 2023 | [–]

That's why they keep U.S. dollars under their mattress.

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