Some Paraguayan sellers ask about 6% to 13% above the official dollar rate for USDT as the Ueno Bank collapse locks customers out of accounts

Paraguayans are paying a premium for dollars in stablecoin form as the collapse of Ueno Bank unsettles the country. iProUP reported on November 5 that peer-to-peer offers on the CriptoYA panel asked up to 6,500 guaraníes per USDT, about 6% above the official dollar rate. crypto.news, citing The Cryptonomist, said an early-November 5 Bybit seller listed USDT at 6,942 guaraníes, about 13% above the central bank's November 4 reference of 6,144.02, while other offers on the same marketplace were far lower, some near 5,000.

iProUP adds that USDT rose from about 5,692 guaraníes on October 15 to 6,151, citing data from Samson Mow, and cautions that the dollar also strengthened against the guaraní, so part of the move reflects the exchange rate. It says Tether CEO Paolo Ardoino reacted to the demand on social media.

Al Jazeera reports that Paraguay's central bank said Ueno had fallen below the legal solvency ratio. Ueno held close to $850 million in public funds, and Peña, who says he sold a stake in its parent group in 2025, announced his resignation on November 5 as lawmakers moved to impeach him. ABC reports he signed a law to return most deposits within five days. Whether the premium fades as deposits come back is the point to watch.