Russians worry for their savings as ruble slumps
When she saw the ruble go through the floor, Natalia Proshina made a beeline for the bank. Like countless other Russians, she feared her savings would vanish overnight in an economic crisis precipitated by Western sanctions over the invasion of Ukraine. The Russian currency on Monday plummeted to a historic low, falling to 100 against the US dollar and 109.4 against the euro. The tanking ruble revived unpleasant memories of financial instability of the 1990s, when millions of Russians saw their savings evaporate under the effect of a devaluating currency and soaring inflation. “As soon as I ...
Source: taipeitimes.com