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Q: Soviet Ruble Exchange Rate to the US Dollar, for last 35 years ( No Answer,   3 Comments )
Question  
Subject: Soviet Ruble Exchange Rate to the US Dollar, for last 35 years
Category: Business and Money > Economics
Asked by: curiousone99-ga
List Price: $10.00
Posted: 04 Apr 2004 15:17 PDT
Expires: 08 Apr 2004 19:12 PDT
Question ID: 325121
I need the Ruble to USD exchange rate for 1970-2004. I have been able
to find data back to 1985, but not prior to that, in my own searches.
This is a rather urgent search, so any help would be appreciated!
Thanks!
Answer  
There is no answer at this time.

Comments  
Subject: Re: Soviet Ruble Exchange Rate to the US Dollar, for last 35 years
From: mar-ga on 05 Apr 2004 15:25 PDT
 
As far as I can remember the Ruble to USD exchange rate had been the
same from 1961 until 1985. 1.00 Ruble had been costing 0.9 USD.
(However, the amount of money, which was allowed for exchange, had
been extremely limited). In those years there used to be a lot of
boasting about that fact in Soviet newspapers.
Subject: Re: Soviet Ruble Exchange Rate to the US Dollar, for last 35 years
From: alkali-ga on 05 Apr 2004 15:28 PDT
 
The Soviet Union set the exchange rate at 0.8 rubles to the U.S.
dollar prior to 1988.

This was almost entirely meaningless, however, since the ruble was not
traded on legitimate currency exchanges during that time. It was
illegal to take rubles out of the Soviet Union, hence they could not
be spent elsewhere and therefore could not be traded outside the
U.S.S.R.

Tourists could exchange currency at official locations in the U.S.S.R.
but there was little incentive to do so, since black market rates were
much higher.

See:
http://www.okno.com/ewltr/archive/vol1/ru-ruble-v1n3.pdf
http://www.cato.org/special/berlinwall/crane1982.html

Alan Kali
Subject: Re: Soviet Ruble Exchange Rate to the US Dollar, for last 35 years
From: curiousone99-ga on 08 Apr 2004 19:09 PDT
 
Thank you so much for these comments. Very helpful!!

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