Today, the main world currency is the American dollar. The history of the exchange rate of this currency against the Russian ruble originates from the moment the United States gained independence and the formation of the financial system of the newly formed state.
Back in the middle of the XIX century. the currencies of the United States and the Russian Empire were exclusively metallic money. Paper banknotes began to be put into circulation only after the outbreak of the Civil War in the United States, that is, in 1861-1865. At the same time, two monetary systems operated simultaneously in the Russian Empire: silver coins and banknotes.
Changes in the dollar against the ruble before the abolition of the gold standard
Starting April 2, 1792, the value of the American currency was tightly tied to gold. This directive was enacted by decree of the US Congress. According to this decree, the unshakable characteristics of the golden dollar were established. So, one dollar weighed 1.60493 grams or 24.75 grains, and its rate relative to the monetary unit of tsarist Russia was 1 to 1.39 rubles. Such quotes remained until 1834, when it was decided to assign the following parameters to the gold dollar: 23.25 grains or 1.50463 g of gold. From that moment, the exchange rate of the national American currency against the ruble changed and amounted to 1 to 1.3.
In 1897, Witte reform was implemented. As a result of these events, the exchange rate of the new gold ruble against the US dollar changed and amounted to 1.94. This ratio lasted until the outbreak of World War I.
The situation with the course in the post-revolutionary period
Nevertheless, the revolutionary events in Russia, the Civil War and the ensuing economic upheavals triggered a catastrophic devaluation of the ruble. So, if in 1916 the ratio of the American dollar to the ruble was at the level of 1 to 6.7, then a year later the rate of the American currency rose to 11. After that, until the creation of the USSR, the ruble depreciated rapidly. Then there was the highest dollar. In 1924, monetary reform was carried out in the Soviet Union , which had a significant impact on the state of the domestic financial system. The Soviet ruble began to be provided with gold in the same way as it was during the time of the Russian Empire. Consequently, the previous ruble exchange rate against the US dollar was also restored - 1.94. Until 1934, inclusive, this ratio remained virtually unchanged.
In 1934, the United States was in a state of "Great Depression" - a phenomenon that affected not only the state itself, but also the dollar. The history of the course is changing. Gold security of the American currency has been reduced. At that time, it was equal to 0.888661 grams of precious metal. The Soviet ruble appreciated against the dollar, and quotes were 1 to 1.24 in favor of the US currency.
Years of stable fixed rate
Starting in the spring of 1950, a stable exchange rate of the Soviet ruble was established in relation to the national currency of the United States at the level of 1 to 4. This situation remained unchanged until the monetary reform in the USSR in 1961. From this moment on, for ten years a fixed ratio between the two currencies is established at the level of 0.90 rubles per dollar. The history of the exchange rate of the American currency to the ruble from that moment until the collapse of the USSR was not remarkable.
Exchange rate fluctuations in the 70–90s
In subsequent years, the exchange rate of the Soviet ruble against the American currency was constantly fluctuating. These changes were influenced by various factors, including the devaluation of the dollar. For example, in 1972 and 1973. the ratio was about 80 kopecks per dollar. The history of the course over the next 15 years recorded the strengthening of the ruble, official quotes were about 75 kopecks per US dollar. Of course, already in these years there was the so-called "black market", in which the dollar was much more expensive. But this trading platform acquired special significance in the 80s, when the USSR was in a deep crisis, and the Soviet ruble officially continued to strengthen against the American currency. At that time, officially the dollar was worth 60 kopecks, the commercial rate of the State Bank of the Soviet Union was 1 to 1.75 in favor of the dollar, and on the black market American currency could be bought for 30-33 Soviet rubles.