Floating rouble slumps near floor
Wednesday 19 August 1998
Shares were also badly hit, falling 9 per cent in woefully thin trade, while the debt market, which will bear the brunt of any restructuring, saw yield soaring 12.5 per cent.
All eyes are now on Friday's emergency meeting of the Russian legislature, the Duma, which is under mounting pressure internationally to agree tougher measures to help the government get its deficit under control.
However, economists warned that the tide of popular opinion in Russia is running against more austerity.
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