Russia makes ruble fully convertible .

Forbes.com

The authorities here lifted currency controls Saturday in a sign of new-found economic confidence less than eight years after Russia defaulted on its massive domestic debt, devaluing its currency and wiping out its people's savings.

The controls were lifted in accordance with a government decision taken Thursday.

«Now it will be more attractive to invest in Russia—this will increase investors' interest in Russia,» Finance Minister Alexei Kudrin said on national television, adding that he expected no capital flight from Russia to result from the reforms.