Monday, February 28, 2022

Why are Russians withdrawing money from banks?

From today's WSJ:
In Russian cities, anxious customers started lining up on Sunday in front of A.T.M.s, hoping to withdraw the money they had deposited in banks, fearful it would run out. The panic spread on Monday.
...On Monday it plunged further, with the value of a single ruble dropping to less than 1 cent at one point. As the value of any currency drops, more people will want to get rid of it by exchanging it for one that is not losing value — and that, in turn, causes its value to drop further.
In Russia today, as the purchasing power of the ruble drops sharply, consumers who hold it are finding that they can buy less with their money. In real terms, they become poorer. Such economic instability could stoke popular unhappiness and even unrest.

2 comments:

  1. I lost my job few months back and there was no way to get income for my family, things was so tough and I couldn't get anything for my children, not until a met a recommendation on a page writing how Mr Bernie Wilfred helped a lady in getting a huge amount of profit every 6 working days on trading with his management on the cryptocurrency Market, to be honest I never believe it but I took the risk to take a loan of $1000. and I contacted him unbelievable and I was so happy I earn $12,500 in 6 working days, the most joy is that I can now take care of my family I don't know how to appreciate your good work Mr. Bernie Doran God will continue to bless you for being a life saver I have no way to appreciate you than to tell people about your good services.
For a perfect investment and good strategies contact Mr Bernie Doran via WhatsApp :+1(424)285-0682 or Telegram : @Bernie_doran_fx or Email : Bernie.doranfx01@gmail.com

    ReplyDelete
  2. Contact Dr. Peter at (concealed information) if you want to get your Husband, Wife, Boyfriend and Girlfriend back now and regain your happiness. drpeterspellcaster21@gmail.com whatsapp +2348162247974 My heart was broken. I never believed I would get back with my husband anymore until Dr peter brought my husband back for me in 24hours Time with a powerful spell. He is reliable for positive results and ???? guarantee with no side effects of work contact him today if you have any relationship problem contact him on Whatsapp +2348162247974 or email drpeterspellcaster21@gmail.com or Facebook page https://web.facebook.com/drpeterspellcaster22 website: https://drpeterspellcasters.wordpress.com

    ReplyDelete