Russians 'invest' in booze and breakfast cereal as ruble continues slide

MOSCOW –- It hasn't been quite as bad as "Black Tuesday," but Russia's volatile ruble continued its slide on Wednesday. That slowed down, however, after Russia's finance ministry took emergency measures to try to stem the currency's precipitous plunge.

Meanwhile, Russian consumers frantically flocked to stores to buy up big-ticket items, as they looked to forestall massive price hikes following the ruble’s fall in past days

But many also dropped thousands of dollars worth of rubles on everything from booze to breakfast cereal, prompting social media users to joke that they were "investing" their money in the items. Read more...

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