RUBLE GETS NEW NOMINAL VALUE.

On January 1, the Russian government redenominated the ruble, lopping three zeroes off the end. The old notes are to be phased out but, until the end of this year, both old and new notes, along with revived kopeck coins, will be legal tender. The government also began the year with a new foreign exchange policy committed to holding the ruble at an average exchange rate of 6.1 rubles to the dollar during 1998.

Kremlin Approves Key National Security Guidelines.