Chapter 66: Black Thursday, the first collapse of the ruble
After the events of October, Uzbekistan returned to Tatarstan with a draft agreement on the separation of powers between the Russian Federation and Tatarstan to negotiate.
In fact, political crises are often accompanied by economic crises, and in just a few days after the events of October, the exchange rate of the Russian ruble seemed to be on a derailed train and plunged headlong into a cliff.
"Oh yes, I've been stuffy in the house for so many days, and now that the two of them have finally decided the winner, it's time for me to go out for a walk. Jia Lei stretched and said.
"Boss, it's messing up outside now, where do you want to go for a walk?" Kerr said with a headache as he looked at Jia Lei.
"Let's go to Arbat Street, and I'll take a look at the people's sentiments by the way!" said Jia Lei, who wanted to see the current economic situation in the Russian market.
"Wait a minute, we need to prepare!" said Kerr.
"Okay!" Jia Lei nodded and said, there is still some chaos outside, it is better to be fully prepared.
Soon Jia Lei came to Arbat Street with his wallet, and as soon as he walked in, he found that the atmosphere here was not right. All the customers are in a hurry to buy the goods, and the business owners are very apprehensive, they don't seem to want to do business.
"How do you sell this nesting doll?" asked Jia Lei, who picked up a matryoshka doll casually.
"Two thousand rubles!" replied the stall owner feebly.
"2,000 rubles? Does a nesting doll cost $2? The last time I visited, it only sold for $1?" asked Jia Lei in surprise.
"Who said that this matryoshka doll costs 2 dollars, I am the fairest person to do business, I have been selling this nesting doll for 1 dollar for the past few years, this is the market price? The stall immediately said unhappily.
"Don't you know how to count when I'm young? I remember that the current exchange rate is 1,000 rubles to 1,000 rubles, and you still say that you didn't cheat my money. Jia Lei said unhappily that this exchange rate was specially asked when he went to Moscow Customs.
Thursday, September 23, was the first day of the confrontation between the Soviet and Russian governments, and the Russian ruble exchange rate plummeted by 25% overnight, and the ruble also fell every day in the following days, and now the ruble is 1 dollar to 2,000 rubles. The boss was right!"
"I haven't gone out for a few days and haven't asked about the exchange rate, and this time I made such a big joke as soon as I went out, which is so embarrassing. Jia Lei covered his face with remorse and said.
Then he quickly took out 2,000 rubles from his wallet and handed it over, picked up the nesting doll and wanted to leave.
"Hey, wait, you're not right. The sturdy Russian stall owner grabbed Jia Lei's arm and said.
"Block let go!" Kerr immediately went up and broke the stall owner's palm, and the boss was so frightened that he shrank back.
"Do you have something to say, why do you do it? What's wrong with my money, it's definitely not counterfeit money?" Jia Lei asked, rubbing his wrist that was pinched red.
"Although your money is not a counterfeit, it is an old ruble, and now this ruble is invalid and can no longer be used, what is the use of you giving it to me. The booth explained in a hurry.
"Huh? The old ruble is invalid! Why haven't I heard of this? When did this happen?" Jia Lei asked curiously.
"Why are you asking this? Do you buy anything? Give me back if you don't buy it, I don't want to sell it yet. The stall owner said unhappily.
"Here's two dollars! If you're willing to answer my question well, I'll pay with that." Jia Lei casually took out two dollars from his wallet and said.
His wallet is full of foreign currencies from various countries, most of which he used to keep when he was doing business outside, so there are various amounts of money in it.
"Do you want to pay in dollars? The stall owner's eyes lit up when he saw the dollar and said that the most lacking thing in Russia now is the dollar.
"You want money, then you can answer my question quickly, and the money is yours when you say it's done. Jia Lei gently pressed the dollar on the stall and said.
"More than two months ago, the government suddenly announced that it was going to stop using the 19611992 Soviet version of the ruble and the 1992 version of the Russian ruble, and now the government only allows us to use the new 1993 version of the ruble, and the previous ruble is all invalid after the exchange deadline.
The deadline for the exchange of old and new rubles is the end of August, which means that from that time on, the old rubles will become a piece of waste paper. I see you have a lot of rubles in your wallet, you've lost a lot of money now!" the stall glanced at Jia Lei's wallet and sighed.
"It seems that I really didn't lose a lot!" Jia Lei said speechlessly as he looked at the old banknote of nearly 50,000 rubles in his wallet, and then he took out the 5,000 yuan banknote and threw it on the ground.
A gust of wind blew and rolled the rubles all over the sky, and the crowd of people in the streets just glanced at them, and no one stopped.
Now the latest version of the ruble has a face value of 50,000 rubles, and no one will pick up 100 rubles of change if it falls on the ground, let alone these old coins that have been obsolete.
"Huh...... , I've been living so comfortably lately that I don't even know about such a big thing as the ruble being invalidated. Jia Lei said self-deprecatingly, and then he left Arbat Street in disappointment.
"Don't you want that kid, don't you want your nesting doll?" shouted from behind the stall, and Jia Lei continued to walk forward without looking back.
"Our boss doesn't want anything, you can keep it for yourself. Kerr replied, and hurried to follow.
Because of the reminder of what happened just now, Jia Lei realized that he had indeed been too slack recently, and he rarely asked about Moscow recently, so he began to carefully look at the surrounding environment.
This look really made him find the problem again!
"Hurry up! The exchange rate has changed again, and now one dollar is going to be exchanged for 2,100 rubles, so everyone quickly adjusts the price. Jia Lei had just taken a few steps back when he saw a person hurriedly running over from the direction of the entrance and shouting loudly.
At that time, the whole street was in chaos, and all the foreign currency exchange offices hurriedly began to raise prices, and those who did not catch up with the old price to exchange dollars regretted it at this time.
"Hey, why has the ruble exchange rate fallen again, this business is really getting harder and harder, and the more I sell now, the more I lose. A woman selling shoes next to her sighed, and then she picked up the pen in her hand and hurriedly changed the price card.
"Fortunately, I have already paid for these shoes, and I have saved 1,000 roubles!" said a woman with a pair of shoes, which were originally worth 200,000 roubles.
"You saved 1,000 roubles, but I lost 1,000 roubles!" said the stall owner, who said this but did not ask for the shoes back.
After all, the price of rubles now changes almost three times a day, and she is used to this kind of thing happening often.
Jia Lei looked at this ridiculous scene but couldn't laugh, he looked around carefully, and found that the faces of the stall owners were not very good for everything priced in dollars, and their prices changed greatly.
But the price of things denominated in rubles has rarely changed, especially for some newspapers and magazines, most of which are made in Russia.
"It seems that prices in Moscow are still relatively stable, although they have raised prices somewhat because of inflation, but the range of price increases is not high, and it is still within the range that the people can bear. As long as dollar transactions are not involved, ordinary Russians will still be able to support themselves on their wages. Jia Lei glanced at the prices on the street and said, and then he left.
"Boss, where are we going now?" asked Kerr.
"When I go to Blackstone Investment Bank, the ruble is invalid and the exchange rate has changed so much, I have to go and see how my money is doing. Jia Lei said a little worriedly.
He didn't worry about the department store, because he only charged dollars for selling things there, and he wouldn't lose money at any time.
"Okay!" Kerr replied, and then he took Jia Lei to his bank.
"Why didn't you inform me about the invalidation of the ruble a while ago?" Jia Lei asked Novan with a frown.
"The ruble is going to be invalidated, your friend Mr. Khodorkovsky, president of Menajet Bank, has long reminded us.
Russia's exchange rate and currency value change almost every day, and you were in the critical period of speculating in foreign exchange futures, so I didn't bother you after they told me about it, and I took care of it myself. Novan explained.
At that time, he was also one of the people in charge of trading, so he was very clear about the transaction amount in Jia Lei's hands at that time, how could the Russian ruble deposit of less than 10 million US dollars be compared with tens of billions of US dollars in foreign exchange futures.
"It turned out to be at that time, so there's nothing wrong with you not saying it, but if you really say it, you'll cause me trouble. Jia Lei nodded and said.
"Boss, I think you would like to thank the president of Menajet Bank, Mr. Khodorkovsky, if he hadn't informed us in advance and exchanged the deposits in our bank for a new ruble through their bank, we would have lost at least a few million dollars this time. Novan reported.
"Thanksgiving is a must, not to mention that I have more important things to talk to Khodorkovsky, so I'll find an opportunity to treat him to dinner tonight." Jia Lei nodded in agreement.
It's a pity that although Jia Lei's plan was good, he was intercepted halfway!
"Jia Lei, come up!" Jia Lei had just walked out of his bank, and a car stopped in front of him.
"Aren't you in the capital, why did you come here?" Jia Lei asked very unhappily when he saw the people in the car, he didn't understand why there was this person everywhere he went.
"I'm done with the business in the capital, I'll come back and continue to talk to the people of the Russian government about buying a ship, isn't this still the line you pulled for us?" Zhang Wenwang said with a smile.
"Since I've already pulled the string for you, why are you still coming to me?" Jia Lei rolled his eyes and asked, and then he got into the car unhappily.
"I'm here to help a colleague invite you to dinner, and they have just come to Moscow to develop and want to learn from your predecessors. Zhang Wenwang said.
"I'm just a bad master, what can your colleague learn from me?" asked Jia Lei puzzled.
"I don't know, you better ask him directly, right? I'm just responsible for inviting you over for dinner. Zhang Wenwang shook his head and said.
"You're a bit of a bully to invite you to dinner, it seems that your colleague is not simple......" Jia Lei's eyes rolled and he immediately smacked the taste.
"The other party is really not simple! Otherwise, I wouldn't have intercepted you without even saying hello......" Zhang Wenwang said with a wry smile, and then he took Jia Lei to the banquet.
"Moscow Huaxia Restaurant?The consumption level of this place is not low, I heard that the master chef who specializes in roast duck here came from Quanju Delhi? Is this true?" Jia Lei asked curiously after following Zhang Wenwang into the restaurant.
"It's true, this Chinese restaurant in Moscow and the Moscow restaurant in Beijing are actually born out of the same political exchange mission.
At that time, the reason why the government opened this Chinese restaurant in Moscow was not to make a profit, but to promote the friendly diplomatic relations between China and Russia, so that Muscovites could better understand the Chinese food culture. So the chef here is really from Quanju Delhi!" Zhang Wenwang nodded and said.
"It's not easy to eat an authentic roast duck abroad, so I'm not welcome today. Jia Lei said happily.
"Whatever you want!" said a man with a general's belly.
"This is Guo Yu, today's master!" Zhang Wenwang introduced Jia Lei.
"This is Jia Lei from Blackstone Investment Bank!" Zhang Wenwang said, pointing at Jia Lei.
"I have long heard that there is a young genius in the financial world of China, and it is well deserved when I see it today. Guo Yu stretched out his hand and said enthusiastically.
"Mr. Guo, you are wonderful! My bank is just a small business, at best it is a money bank counter, how can I be called a financial wizard. Jia Lei said modestly, and then he reached out and shook Guo Yu.
Although there are many people who open banks in Moscow, there are not many people who can not lose money when the ruble policy and exchange rate fluctuate so drastically. Let's talk inside!" Guo Yu said.
"Mr. Guo, you always open your mouth and close your mouth to learn from me, I don't know what industry you are engaged in?" Jia Lei asked with a smile.
"Oh, didn't Lao Zhang tell you? I also run a bank, and it was decided that I would open a branch of the Huaguo Bank in Moscow, and I came here to do the construction. Guo Yu said.
"Ahem, what did you say you were doing here?" Jia Lei asked in surprise when he heard this.
"I'm here to open a bank for the country? Otherwise, why would I ask you for experience? Why are you so surprised?" Governor Guo asked puzzled.
"Can I not be surprised? Recently, the ruble exchange rate has fallen so badly, and it is very risky to engage in the financial industry here, and I mentioned this matter to Mr. Wang and them last year.
My godfather said that he was afraid of losing money, so he didn't want to open a bank in Moscow for the past two years, and now that the exchange rate in Moscow has fluctuated even more, why did you suddenly come here to open a bank? Are you not afraid of losing money now?" Jia Lei asked puzzled.
"In fact, what the state is afraid of has always been not losing money, what the state is afraid of is that the Russian Federation will not be able to hold on, and the ruble will be invalid. ”