The Russian ruble and the Russian stock market have both been severely punished for the invasion of Georgia one month ago. Global investors continue to liquidate their equity holdings and sell the ruble, as they realize that there is no safety of capital or property in Russia, causing both the currency and the stock market to continue to drop. The Russian stock market has fallen nearly 50% in the past 2 months, and neither the business climate nor the ruble show any signs of recovery anytime soon.Tuesday, September 9, 2008
The Ruble Is Rubble
The Russian ruble and the Russian stock market have both been severely punished for the invasion of Georgia one month ago. Global investors continue to liquidate their equity holdings and sell the ruble, as they realize that there is no safety of capital or property in Russia, causing both the currency and the stock market to continue to drop. The Russian stock market has fallen nearly 50% in the past 2 months, and neither the business climate nor the ruble show any signs of recovery anytime soon.
