• Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint
Share this Page URL
Help

Chapter 11. Black Swans and Rogue Traders > Russia Devalues the Ruble

Russia Devalues the Ruble

An investor should understand that government can sometimes make decisions that are as unpredictable and stunning as an earthquake.

In 1998, the Russian government faced a growing crisis. The nation's banking system was still primitive nearly eight years after the fall of the Soviet Union. Investors were unsure about the stability of the ruble, and pressure began to build as they traded in rubles for dollars.


PREVIEW

                                                                          

Not a subscriber?

Start A Free Trial


  
  • Creative Edge
  • Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint