For fear of rising inflation, many Russians flee the ruble. The citizens of St. Petersburg therefore increasingly investing in metro coins – the sales have recently increased sixfold. Now the city has stopped hoarding
panic buying of the Russian population due to the falling ruble, the authorities of St. Petersburg forced to an unusual measure. Ironically, in the hometown of President Vladimir Putin, the sale of the metro coins was rationed because the inhabitants these days since hoard as elsewhere sugar or buckwheat. In future may cashiers in the metro stations therefore only two coins per customer spend.
Normally sold around 15,000 daily metro coins in Russia’s second largest city. Since the beginning of December but there were 80,000 to 100,000 per day. This is due to the falling ruble and a force from January 1 price increase from 28 to 31 rubles (45 to 50 cents). “I have a feeling that people invest here in Metro coins” joked one passenger in front of a subway switch in St. Petersburg.
hoarding due to rising inflation
Poorer households hoard a few weeks ago essential goods for fear of the continued decline of the ruble and rising inflation. Caused the currency crisis – the worst in 15 years, in which Putin is in power -. Especially by the falling oil prices
The Western sanctions against Russia for Moscow Ukraine policies contribute to the deterioration of the situation in , The ruble lost in the waning year, about 40 percent of its value against the US dollar and the euro
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