Author Topic: Belarus in turmoil following currency devaluation  (Read 1115 times)

Offline Roknrandy

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Belarus in turmoil following currency devaluation
« on: May 26, 2011, 08:46:27 AM »
Belarus has plunged into confusion and turmoil after the central bank devalued the nation's currency.

entire article @ http://www3.nhk.or.jp/daily/english/25_25.html

Offline Mr. Bill

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Re: Belarus in turmoil following currency devaluation
« Reply #1 on: May 26, 2011, 10:16:56 AM »
Interesting news.

I wonder whether reporters are really this stupid, or whether they're intentionally trying to obfuscate the obvious:

Quote
...On Tuesday, the former Soviet republic devalued the ruble by over 50 percent against the dollar. ...

The devaluation prompted consumers in the capital, Minsk, and elsewhere to dump the currency in exchange for food and electrical appliances.  The buying rush caused prices to more than double. ...

Currency devalued by more than 50%; prices immediately more than double; blame price increases on a buying rush by consumers. :o