Narva residents take advantage of weak ruble in shopping spree
After the near-collapse of the ruble on December 16, residents of border town Narva have been heading to Russia to buy goods, especially electronic products.
Ants Kutti, head of the Customs Organization Department at the Tax Board, said there has been a noticeable increase in Estonians traveling to Russia to shop for electronic goods, with television sets proving especially popular.
He said that Russian shops were slow to react to the drastic fall in the ruble and electronic goods became very cheap for Estonian citizens.
According to rus.err.ee, Narva residents are also buying clothes and jewelery en masse.
The turn of events is a reversal to the summer and fall trend of Russians shopping in Narva after the Russian ban on food imports hit home. Russians then flocked to Narva to buy food, as well as other cheaper goods, as Estonian shops offered better prices and selection. Buses transported buyers from St. Petersburg just for a quick shopping trip to Narva.
The ruble plummeted on Tuesday, with each euro previously costing around 50 rubles until November, with the trade spiking at 100 rubles per euro for a short period on December 16, before climbing back down to 75 rubles a day later.