The ruble rose to 4943 to the dollar June 5, its best showing in two months. Kommersant-Daily on June 3 suggested that the Russian authorities had talked the ruble up and that it would fall after the G-7 meetings in Halifax later this month because of economic weakness and underlying inflationary pressures. Delovoy mir agreed on May 30, noting that commodity prices were rising fast–5 percent a week at the end of May over all. Among the greatest increases was a rise in the price of paper– 70 percent in one week alone. Kommersant-Daily on June 1 compared the current state of the Russian economy to that of the United States during the Great Depression, but the paper indicated that the Russian economy could fall still further.
Draft Laws May Hurt Foreign Firms.