The Conservative Cave
Current Events => General Discussion => Topic started by: BlueStateSaint on September 16, 2014, 04:42:29 PM
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Interesting . . . I wonder what Vlad's response will be.
Moscow warns against panic as ruble plunges to historic lows
AFP By Anna Smolchenko
2 hours ago
Moscow (AFP) - Russian authorities told people not to panic on Tuesday as the battered ruble plunged to record lows, floored by tensions with the West over Ukraine, new sanctions and falling oil prices.
The national currency fell to 38.82 rubles per dollar after weakening on Monday to below 38 against the dollar for the first time.
It also broke through the symbolic level of 50 rubles per euro for the first time in several months.
The ruble has slumped as investors fret about the impact of ever more stringent Western sanctions on the economy, which is already teetering on the verge of recession.
Ordinary Russians said they were concerned that a weaker ruble would drive up inflation and make foreign trips and foreign currency-denominated purchases an increasingly unaffordable luxury.
This might have some 'unforeseen consequences.'
http://news.yahoo.com/ruble-plunges-sharply-against-euro-dollar-110647010.html
Saint's note: If a mod thinks this should go in the BN forum, please move it there.
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Not to worry....it's still a communist country in reality....so they will decrease wages accordingly to compensate.