Word: rublee
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The finger-pointing and raft of rumors that have plagued Russian President Boris Yeltsin's government since "Black Tuesday," theOct. 11 ruble crash, intensified today as two top ministers left office. Yeltsin fired a senior Russian defense official, received the resignation of a leading economic reform advocate and appointed his...
President Boris Yeltsin, calling the currency crash "a threat to our national security," fired acting Finance Minister Sergei Dubinin, a critic of easing monetary policy, and asked parliament to dismiss central bank chairman Victor Gerashenko -- who resigned, but only after a personal meeting with Yeltsin. Considered by many an obstacle...
The following day, after the central bank intervened, the ruble rebounded, and by week's end had climbed back to 2,988 to the dollar. To some extent the panic-fueled plunge reflected the gap between the Yeltsin government's promise of radical economic reform and its performance, as well...
Then last week the ruble, which had begun to slip in September, nose-dived in three hours of panicky trading, from 3,081 to the dollar to 3,900, as money dealers rushed to rid themselves of the currency. Ordinary folk joined the traders in bailing out, queuing up in...
RUSSIA: Ruble Run 43