Ruble Rubble

Seeking Alpha:

"On the streets, there were signs that Russians had lost faith in their currency after watching how their incomes and savings got decimated. Bid-ask spreads of 20 rubles began appearing at some exchange offices where they offered to sell dollars for 85 rubles but would only buy them for 65 rubles. IKEA furniture stores and other “hard asset” retailers saw a burst in activity as folks were trying to convert their rubles into whatever else they could before these rubles lost their value entirely, and before retailers could catch up with price changes."

No comments:

Post a Comment

Mysterious and anonymous comments as well as those laced with cyanide and ad hominen attacks will be deleted. Thank you for your attention, chumps.