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Ruble slides as opposition blames Yeltsin for devaluation
The ruble fell another 7 percent as the government withdrew support and allowed a devaluation, trading at about 14.53 cents per ruble on official pools and far lower in street rates. Critics led by the Communist opposition denounced President Yeltsin, while analysts warned rising prices and higher inflation would strain Russian households. The move followed halted treasury bill payments and a 90 day moratorium on foreign payments, triggering sharp stock declines and calls for reform.
MENTIONED IN THIS ARTICLE
Moscow
Boris Yeltsin
U.S
Lyudmila Sergeyeva
Gennady Zyuganov
State
Duma
Gennady Seleznyov
Yeltsin
Echo Moscow Radio
Poo
Sergei Yastrzhembsky
Russia