Russian stocks slide but dollar gets up after Medvedev’s decree

Russian stocks slide but dollar gets up after Medvedev’s decree
# 26 August 2008 15:34 (UTC +04:00)
Moscow-APA. Russian President Dmitry Medvedev’s decision to recognize the independence of the Georgian breakaway regions of South Ossetia and Abkhazia seriously damaged the country’s securities market. Russian stocks have rapidly fallen after the presidential decree issued. The RTS fell 6.10 percent to 1,547.1 points. The Russian currencies also weakened for % per cent within several minutes. The decree seriously damaged Russian leading companies. Sberbank shares fell 9 per cent, Gasprom and Norilskiy Nikel – 7.5, LUKoil and Rosneft – 5 per cent. In parallel the dollar rose to Russian ruble at the exchanges.
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