How Much Is That in $? Russia hopes to pull in foreign currency with a convertible ruble

Much Is That in $? Russia hopes to pull in foreign currency with a convertible ruble

IN A BOW TO THE WEST, RUSSIA DECIDED TO MAKE its ruble convertible to foreign currencies for the first time in nearly seven decades. The goal is to free the price of the ruble to float, possibly as early as Aug. 1, though most experts say the process could take longer. Moscow is counting on the measure to attract foreign investors who will then be able to calculate real prices and costs. They will also be able to take profits -- if they make any -- out of the country.

The price of the ruble is currently set at several rates...

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