Word: rublee
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Moscow wrote a financial fairy tale. The Soviet Council of Ministers announced last week that the ruble, which had previously been fixed as worth about 19?, would henceforth be worth 25?. The new "exchange rate" was purely imaginary. Nobody ever gets a chance to exchange any rubles into foreign currency...
The ruble is almost never used in foreign trade-not even by the Russians and their satellites. Russia's foreign trade is strictly barter, reckoned (with very few exceptions) in standard commodity units, or in dollars or pounds.
Nevertheless, Moscow's worldwide public-address system blared that, while Western nations had to devalue their currencies, Russia's economy was so healthy that it could raise the value of its currency. Some U.S. commentators helped dramatize the Moscow propaganda by prattling of a "war" between the ruble...
During his last trip to his native Russia in 1946, Waksman was treated royally by the Russians and made a member of the Academy of Sciences of the U.S.S.R. With this honor went a 15,000-ruble prize, but Waksman could not take the money out of Russia. So he...
Bevin & Cripps would argue that Britain's ultimate aim, like America's, was a competitive, freer-trading world outside what Bevin calls "the ruble area." But they would also defend Britain's present bilateral trade deals with other countries (e.g., Argentina) as an unavoidable expedient so long...