& çâÌæÚUæð´ ·¤è ¥ôÚU Îð¹Ùæ ÁæÚUè ÚU¹ð´ ¥ÍæüÌ ¥ÂÙð ÜÿØ ÂÚU ŠØæÙ ÚU¹ð´Ð ãæÚU Ù ×æÙð´, €UØô´ç·¤ ·¤æ× ·¤ÚUÙð âð ¥æÂ·¤ô ©gðàØ ·¤è Âýæç# ãôÌè ãñ ¥õÚU ÁèßÙ ·¤æ ¹æÜèÂÙ ÎêÚU ãôÌæ ãñÐ ÖÜð ãè ÁèßÙ ×ð´ ç·¤ÌÙè Öè ·¤çÆÙæ§ü €UØô´ Ù ¥æ°, çÁ™ææâæ ¥õÚU ©ˆâæã ÕÙæ° ÚU¹ð´Ð ŠØæÙ ÚU¹ð´, ÜÿØ ã×ðàææ ¥æÂ·Ô¤ Âæâ ãôÌð ãñ´ çÁ‹ãð´ ÂæÙð ·Ô¤ çÜ° ÂýØæâ ¥æÂ ·¤Öè Öè àæéM¤ ·¤ÚU â·¤Ìð ãñ´Ð

Shock waves from 'black Tuesday' rock Moscow
\ MOSCOW. Oct 12: Shock waves from "Blaok Tuesday” spread throughout Moscow with money exchanges and kiosks shutting their doors as merchants and shoppers scrambled behind a plummeting Russian rouble, reports AP.
The rouble lost a fourth of Its value against the dollar In the worst one-day plunge since trading began in 1992. It closed at 3.926 to the dollar at the Moscow Interbank Currency Exchange, a drop of 845 points.
This country Is going down .the drain." said Yaroslav Sychevsky, as he stood, in line at a currency exchange.
Exchanges across the city closed after selling out of dollars and kiosks shut while Moscow's fledgling capitalists marked up merchandise. Some shopkeepers selling imported
goods said they might have to double prices to keep up — even though they risked driving away customers
"We don't know what to do," said Oleg Abayev, head of Lora, a chain of kiosks selling imported liquor, food and cigarettes.
The rouble's tailspin -left shoppers stunned — and looking for someone to blame.
“Our government la braln-lessl” wailed Nikolai Romantsov as he surveyed the prices at a downtown food shop.
Other panicky Muscovites gutted savings accounts, dashing to buy before their money suddenly shrank again. Refrigerators, stereo and television sales sky-ropketed Tuesday, the ITAR-Tass news agency said.
Everyone looked for some-
one to blame.-
As top government officials convened in hastily called meetings and President Boris Yeltsin met with the speaker of parliament in the Kremlin, the head of the Central Bank said the culprits were "speculators."
'This fall snap back and stick to' their face like bubble gum,” bank chief Viktor Gerashchenko declared.
A free falling rouble endangers Russia's free-market reforms by scaring off foreign in vestors. squeezing people who rely heavily on Imported goods and Increasing the risk of rf-ceksion.
The alarming part is the instability." said Dr Lena Mikhailova as she waited for a bus. "If this means the ecbn-orny is going to collapse, or even the government, then I
am worried.''
The Central Bank, which spent billions of dollars to prop up the rouble this year, unleashed the panic by stepping back from the money market last month.
Some called the move an attempt to punish speculators. But Gerashchenko said the bank had had to pull back because It had dipped so deeply into liard currency reserves In August.
The bank Jumped back Into the market Tuesday in the final minutes of trading, spending 80 million dollars to stop the rouble from going under 4.000.
The bank also announced It was raising its commercial lending rate to 170 per cent from 130 per cent In hopes of curbing inflation.
“In the past: we said the
rouble exchange rate reflected inflation. Now we can see that the rate has started to cause it." said Irlrfa Pavlovna, an economic analyst
The experts seemed as bewildered by the rouble's dive as everyone else-.
“Political infighting." said Yelena Ishachenko, a money market analyst.
The Central Bank Is trying to show people how Important it Is." said Dmitry Rappaport, a Stollchny Bank official who described the currency exchange as "a playground for bankers and politicians."
It took the rouble more than a year to go from 1.000 to 2,000 against the dollar, from May 1993 to July 1994 but just three months to sink to 3,000. In the past two days of trading alone, the rouble has fallen by more than 1,000 to
the dollar.
The worst previous one-day drop was on September 23. 1993. when the rouble lost 17.9 per cent of Its value, going from 1.102 to 1.299 to the dollar.
The general air of economic chaos wasn't helped by a sudden run on gasoline that came, paradoxically. Just a day after a 17 per cent price hike.
Alexander Korsak, in charge of Moscow's gasoline supplies, said he couldn't explain the outburst of panic buying that forced drivers to wait In long
. Unes
One driver. Valery Rubachev got to the front of the gas line Just as his station ran out. The rouble Is falling, the dollar Is rising, all prices are going up, he said wearllv I have to work two Jobs to keep up."