Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016


Free access archive

Kiosk money changers: Illegal, but who cares?

While the Russian government wrestles with problem of how to make the ruble convertible, a host of kiosks in Moscow are doing a brisk business exchanging rubles for hard currency. Although the practice is illegal, kiosk owners in several areas of the city are taping up dollar bills in their windows to alert passersby that they are in the money-changing business. Kiosk managers interviewed recently said they recognized they were breaking the law, but did not consider themselves black marketeers. They were simply responding to market demand and to the government's inertia in enforcing the law, they said. ""The government doesn't approve of such a business, and it is not legal"", said a man who runs one of four kiosks that change money in front of the Irish House on Novy Arbat. The man, who identified himself only as Sasha, said he viewed kiosk currency exchanges as ""semi-official"".
Most Read

Moscow Directory