Around the World's Markets: Moscow

Wednesday 26 August 1998 23:02 BST

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STOCKS and bonds plunged and the central bank halted sales of dollars to banks after the government unveiled a plan that forces investors to accept huge losses on government debt totalling 250bn roubles.

The benchmark RTS index fell 13.8 per cent to 76.26. Russia's dollar- denominated Eurobonds maturing 2001 also slumped: they now yield 57 percentage points more than US Treasury bonds of comparable maturities.

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Around the World's Markets: Moscow

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