Russians are scooping up luxury goods and electronics as a wartime hedge

With the ruble hitting record lows, Russians are scrambling for hedges against wartime inflation.

To counter their dwindling spending power, many are rushing to ATMs to withdraw cash in euros and other foreign currency. But others are looking for alternatives to cash.

Some are buying electronics and appliances before their rubles depreciate further. Spending on those goods, which are often imported brands, jumped 80% last week compared to the one prior, according to Check Index, which analyzes consumer trends, Reuters reported.

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