Russia needs full membership in G8 so much, that Ministry of Finance and Central bank are ready to convert ruble this year. The Minister of finance said, that ruble conversion is scheduled to January 1, 2007. However, it may be done earlier, if the Russian Ministry of Finance and Central bank consider it possible.

Freely convertible ruble shall relieve legal entities and natural persons from permissive procedures for currency import-export, in other words, the capital flow restrictions shall be removed.

According to Kudrin, ruble conversion has become possible due to its strengthening. Today ruble is reliable and rather predictable currency, which allows to suppose, that it will become reserve currency in other countries.
sections: Economics, World News, Region News
areas: Central region