THE RUBLE: UP OR DOWN?

Economic Analysis Institute director A. Illarionov told Izvestiya April 22 that the ruble was sharply undervalued relative to the dollar and should gradually gain against the US currency. But Moscow Currency Exchange expert I. Doronin told Finansovye izvestiya (no. 29) that the ruble “will in all probability” continue falling against the dollar at a rate of 1.5 percent a week.

Russian Arms Exports Seen Rising.