Soviets May Devalue Ruble: The Soviet business...
From Times Staff and Wire Reports
Soviets May Devalue Ruble: The Soviet business weekly Commersant said President Mikhail Gorbachev would soon devalue the ruble by about two-thirds, making the dollar worth 1.8 rubles, compared to the present 0.56. The aim of a devaluation, which some economists see as a first step toward convertibility, would be to boost domestic production and exports and cut down on unnecessary imports.
