External Ruble Convertibiliy A Long Way Off Soviets Struggle Toward Internal Convertibility
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Traders who envision a fourth important currency, the ruble, to take its place in the nineties alongside the dollar, the yen and the Deutsche mark may well have been heartened by discussions during the recent G-7 summit of internal convertibility starting January 1, 1992. However, interviews with Soviet officials and Western experts reveal considerable doubt that this step can be taken that soon -- and even less confidence in a quick transition to full convertibility.
"It's a very big political
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