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Strategies & Market Trends : Investment in Russia and Eastern Europe
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To: Real Man who wrote (261)7/2/1998 3:40:00 PM
From: baystock  Read Replies (1) of 1301
 
<<I agree on being VERY careful - the government talked about 30-40% ruble devaluation recently. >>

I heard that many of the Russian banks will lose big time if the ruble is devalued because they sold ruble hedges to foreign investors. That is why the government is so desperate not to devalue that they have raised interest rates to close to 100%, even though those high rates are devastating the Russian economy. I would wait until the dust settles after a ruble devaluation before thinking of stepping in.

Ram
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