Rouble now fully convertible
FRONT PAGE NEWS
As of July 1, limitations on capital account operations were removed. This, for example, means that reserve funds will no longer be needed when settling accounts between Russian and foreign organisations and the currency will be able to be freely traded in global markets. The lifting of currency controls is expected to boost foreign investment in the country.
The move was six months ahead of the initial timetable of January 1, 2007, and has been welcomed by market participants. Banks such as UBS
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