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Strategies & Market Trends : Russian Crisis - Is it a buying opportunity?
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To: Jeffrey L. Henken who wrote (169)9/7/1998 6:23:00 PM
From: Dimitry A. Semenov  Read Replies (1) of 175
 
Here is quick look from inside of Russia (received today), from one of my friends who works for one of the big global consulting firms in Moscow: "As
for my work, all the projects are stopped. The clients have no money to pay, banks do not process transactions, investments to Russia are being cut. Chances are most of the staff will be laid-off. Most of the banks had already reduced their staff by about 60-80%.
It's almost impossible to buy dollars. The rate is 21rubles per dollar! and the ruble continues to fall. One more lovely piece of news today: they are bringing more troops and locate them around Moscow, saying that it is necessary in case there will be disorder on the streets."
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