Originally Posted by Rolling Stone
The solution to all these problems would be to just quote in local currency. Unfortunately most folks want to know how much that is in their own currency, and as soon as they hear that number it becomes the de facto rate.
Indeed. That's what they should do--and that's what happens in almost every foreign country. Unfortunately, many business establishments in Russia prefer quoting rates in dollars or Euros because that enables them to make a side-profit.
Did you hear about how one of the Hermitage's curators stole millions of dollars worth of works of art over a number of years ...