The article blames the latest slide on US unemployment numbers, but the dollar has been sagging on Russian markets for awhile and one Vremya commentator mentioned "the situation surrounding Iraq" as part of the reason.
It will be interesting to see whether Russians listen to their finance minister...
DC
In a message dated 3/10/2003 12:03:43 AM Pacific Standard Time, cburford at gn.apc.org writes:
> Subj:Russia tries to steady dollar!
> Date:3/10/2003 12:03:43 AM Pacific Standard Time
> From:<A HREF="mailto:cburford at gn.apc.org">cburford at gn.apc.org</A>
> Reply-to:<A HREF="mailto:lbo-talk at lists.panix.com">lbo-talk at lists.panix.com</A>
> To:<A HREF="mailto:lbo-talk at lists.panix.com">lbo-talk at lists.panix.com</A>
> Sent from the Internet
>
>
>
> Yes, seriously.
>
> http://www.guardian.co.uk/worldlatest/story/0,1280,-2467712,00.html
>
> >Sunday March 9, 2003 11:10 PM
> >
> >MOSCOW (AP) - The finance minister urged Russians not to shift their
> >savings out of dollars Sunday, saying there is no need to worry about the
> >U.S. currency falling dramatically despite recent declines.
> >
> >Russia is the biggest dollar economy outside the United States, and by
> >some estimates its citizens have tucked away as much as $40 billion in
> >mattresses, closets and shoe boxes.
>
>
>
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