15 October 1998 In mid-August, my magazine, the Russian-European journalism review Sreda, had about 70,000 rubles in its bank account. At the pre-crisis rate of 6.3 rubles to the dollar, this amounted to $11,000 and was sufficient to cover all costs of the August issue. In early September, at the new rate of 20 rubles to the dollar, the same […]
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