Ruble Futures Market Planned: The Chicago Mercantile...
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From Times Staff and Wire Service Reports
Ruble Futures Market Planned: The Chicago Mercantile Exchange will develop a dollar-based futures market for the Soviet ruble by late next year. Chairman Leo Melamed said the new market will allow the value of the ruble to be set against that of other world currencies, an economic necessity as the Soviet Union moves rapidly toward a market-based economy. Although the ruble is officially worth $1.67, economists say the free-market value would be much lower.
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