Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Businessweek Archives


International Outlook: Global Wrapup


The humble ruble may be a step closer to joining the ranks of fully convertible currencies. On Apr. 27, Russian First Deputy Prime Minister Yegor T. Gaidar announced plans for a single, market-determined currency-exchange rate by July 1. While Britain's Chancellor of the Exchequer Norman Lamont has suggested linking the ruble to the ECU, the Russians want to peg their money to the dollar--but with a twist. Although Western officials prefer a fixed rate, the Russians want the value of the ruble to slide 7.5% above or below a target rate to the dollar. Russian officials talk about a 50 ruble-to-the-dollar rate--though that may be unrealistic given today's rate of roughly 140 rubles to the dollar. Still, expect an overhaul of Russia's confusing patchwork of four separate exchange-rate systems by this summer. Such a change would help attract foreign investment and meet a major precondition for Western aid.EDITED BY STEPHEN H. WILDSTROM

blog comments powered by Disqus