The official exchange rate was still in the 60s, and the sign on the currency exchange kiosk’s door said there were U.S. dollars on sale at 80 rubles. The woman at the window wanted 85.
At the exchange points that are a fixture across the Russian capital, those seeking dollars to protect their savings from the ruble’s collapse were forced to pay more than 20 percent above the plunging official exchange rate on Tuesday.
A shocking overnight hike in the interest rate failed to rescue a currency driven sharply lower by falling oil prices, the threat of recession and economic sanctions imposed …read more
Source: Voice of America
