How much the value of Soviet Union Ruble to a US Dollar since Cold War years?
I cannot be reach for these Soviet Union currencies or 20th century currencies.
Vladimir Kvint is a member of the “Siberian School” of Soviet economists and an associate of economists Leonid Abalkin and Abel Aganbegyan, the godfathers of perestroika. Below, he rejects the idea of a gold standard for his country but urges that the ruble soon be made convertible into foreign currencies. He urges that the ruble be allowed to float by permitting foreign currencies to circulate freely in the Soviet Union, thus setting a natural exchange rate. Only that way can the Soviet Union be integrated into the world economy.
As I recall, an official exchange rate was never set between the ruble and the dollar during the cold war. There were probably some black-market exchanges set among those who bought and sold various items, however.
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