Booming stocks entice Russians back to market

I noticed this in an article about the Russian stock market:

Russians are estimated to have between $35 billion and $80 billion in foreign currency stashed under mattresses, mostly from cash-in-hand wages and black-market activities such as driving illegal taxis or letting out apartments.
Until recently, they only dared to spend their cash on consumer goods and real estate. Now, many are turning to banks, brokers and mutual funds to beat double-digit inflation.

Hmmm, I wonder how this story will end.

Posted by on April 3rd, 2006 at 10:35 am


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