November 19, 2008 By James Kimer

The Ruble and the Reserves

There appear to be some discrepancies over views on possible ruble devaluation and the rate of depletion of Russia’s foreign exchange reserves.

From AP:

Russia’s finance minister sought Wednesday to reassure investors and citizens that the economy will survive the global financial turmoil, saying Russia’s rainy day fund will last for at least 7 years under the worst-case scenario.

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