The day capitalism died in Russia

Article Abstract:

Russia is heading towards an inconvertible currency, following the central bank's cancellation of foreign currency trading and refusal to set a rouble exchange rate. Russia's role as a significant commodity supplier is blamed for the crisis, due to plummeting oil prices. Russia would not be eligible for International Monetary Fund loans if its currency becomes inconvertible.

Foreign exchange, Money

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Markets face meltdown as Russian losses reach 70bn pounds sterling

Article Abstract:

Investors are though to have lost $114 billion in the Russian crisis, with Credit Suisse First Boston and George Soros among those suffering the largest losses. The crisis resulted in a 353.4 point plummet for the Dow index to 8,170.11, with the FTSE 100 crashing 176.9 points down to 5,368.5. Markets world-wide were affected by the crisis, with Brazil plunging over 7%.

International aspects, Stock-exchange, Stock exchanges, Money market, Money markets

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