One of the results of the monetary reform carried out in 1961 was the linking of the official ruble exchange rate of the USSR State Bank to the price of gold. The cost of Soviet treasury bills has become equivalent to 0.987412 grams of this precious metal. To date, the price of this amount of gold is 45 US dollars.
Surely the majority will be surprised to learn that the Soviet ruble is still quoted and has a high price relative to other world currencies, including the main reserve ones. The value of this monetary unit of an already defunct country is about two US dollars. Proof of this is information on an ongoing basis posted on the website of the Central Bank of Russia and containing official rates of the State Bank of the USSR.
A bit of information about the ruble of the USSR
Moreover, recently the price of Soviet treasury tickets has been constantly growing. You can verify this with a simple analysis of changes in the official rates of the USSR State Bank in recent months. It should be noted that during the Soviet Union in the Western countries it was not customary to classify the Soviet ruble as a freely convertible currency. There were objective reasons for this. For example, Soviet law did not provide for free currency transactions. There were tough restrictions.
In addition, the Soviet ruble was not traded on international currency trading floors. Nevertheless, as you know, the Russian Federation is the recognized successor of the Soviet Union in the international arena. Thus, the Russian Federation voluntarily assumed the debt obligations of the Soviet Union that had ceased to exist.
Why do we need exchange rates of the State Bank of the USSR?
The Russian Federation has already closed these debts, but some other states took loans from the Soviet Union. For the purpose of recalculating these debts, official rates of the USSR State Bank for foreign currency units against the Soviet ruble still exist.
They are used to implement the payment and settlement relations of the Russian Federation with foreign partners as part of the implementation of trade and credit agreements of the Soviet Union. An interesting fact: according to the official rates of the USSR State Bank, at the moment there is only one currency in the world that is quoted above the Soviet ruble. This currency is the Kuwaiti dinar, the value of which is 1 Soviet ruble and 78 kopecks. It is worth emphasizing that neither the American dollar, nor the euro, nor the British pound have never been quoted above Soviet rubles, but have always been cheaper.
Current exchange rates of the State Bank of the USSR
You can get acquainted with the current official exchange rates of the USSR State Bank regarding the Soviet ruble on the official website of the Central Bank of the Russian Federation. For example, according to the latest quotes, 100 Australian dollars cost 41 rubles and 89 kopecks, and 100 US dollars - 52.01 rubles. The price of the euro is 64.60 rubles. In addition, on the website of the Central Bank of the Russian Federation, one can also find the exchange rate relationship between the ruble and the already invalid German marks. 100 marks cost 33 rubles and 3 kopecks.
