Rouble may be freed

Press, Volume CXIII, Issue 33148, 12 February 1973, Page 4

Rouble may be freed

(X.Z. Press Assn.—Copyright) MOSCOW, February 9. A leading Soviet Union economist disclosed yesterday that there are plans to make the rouble convertible with other world currencies, but .that this will take time, and I will depend on increased trade with the west. Mr O. T. Bogmolov, direcI Economy of the World Socialtor of the Institute of ;ist System, and a corresponding member of the Soviet Academy of Science-, made no prediction as to when the rouble would be exchanged freely with other world currencies. The rouble is now arbiitarily pegged by the Soviet 'Union at about .82 to the United States dollar, which is several times too high in terms of relative buying power. Speaking at a conference ; sponsored by the Soviet Committee for European 1 Security, Mr Bogmolov appealed for the removal of trade barriers between East and West, and an end to what he described as discrimina tion by Common Market countries. He said that he foresaw the possibility of the integration of electric power grids by East and West Europe, and the establishment of a joint transport system of truck lines and waterways.