Russia and Belarus move towards single currency

The Russian Federation government has approved the draft agreement between Russia and Belarus concerning the introduction of a single currency and the establishment of a single centre of issue of the Union State.

It was decided that the Russian rouble will be the single currency of the union state as of 1 January 2005, and three years later, in 2008, Russia and Belarus are expected to create a new single currency.

The governments and the central banks of the two countries are expected to form

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