History of the course

American dollar. History of the course

Today the main world currency is Americandollar. The history of the course of this monetary unit in relation to the Russian ruble originates from the moment when the United States of America gained independence and the financial system of the newly formed state was formed.

In the middle of the XIX century. the currencies of the United States and the Russian Empire were exclusively metal money. Paper banknotes began to enter 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-ruble exchange rate to the abolition of the gold standard

Beginning on April 2, 1792, the costAmerican currency was tightly tied to gold. This directive was fixed by a decree of the US Congress. According to this decree, the unshakable characteristics of the gold dollar were established. So, one dollar weighed 1.60493 grams or 24.75 grit, and its rate relative to the monetary unit of tsarist Russia was 1 to 1.39 rubles. Such quotes persisted 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 currency against the ruble changed and was 1 to 1.3.

In 1897 the Witte reform was implemented. As a result of these events, the rate of the new gold ruble against the US dollar changed and was 1.94. This ratio lasted until the outbreak of the First World War.

dollar course history

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 US dollar and the ruble was at the level of 1 to 6.7, then in a year the exchange rate of the American currency rose to 11. After that, until the USSR was created, the ruble depreciated at a rapid pace. Then there was the highest dollar rate. In 1924, the Soviet Union carried out a monetary reform, which had a significant impact on the state of the domestic financial system. The Soviet ruble was provided with gold in the same way as it was in the times of the Russian Empire. Consequently, the previous ruble exchange rate against the US dollar was restored - 1.94. Until 1934 inclusive, this ratio remained virtually unchanged.

dollar 60 kopecks

In 1934 the United States was in a state of "Greatdepression "- a phenomenon that affected not only the state itself, but also the dollar. The history of the course is changing. The gold security of the American currency was reduced. At that time it was 0.888661 grams of precious metal. The Soviet ruble strengthened against the dollar, and quotations were 1 to 1.24 in favor of the US currency.

Years of stable fixed exchange rate

Since the spring of 1950, thestable rate of the Soviet ruble in relation to the national monetary unit of the United States at the level of 1 to 4. This situation remained unchanged until the implementation of the monetary reform in the USSR in 1961. From this point on, a fixed ratio between the two currencies is set at 0.90 rubles per dollar for ten years. 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.

highest dollar rate

Exchange rate fluctuations in the 70-90s

In subsequent years, the rate of the Soviet rublethe attitude towards the American monetary unit constantly fluctuated. 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 a strengthening of the ruble, official quotations were about 75 cents per US dollar. Of course, already in these years there was a so-called "black market", on which the dollar was much more expensive. But this particular trading platform acquired special importance in the 80s, when the USSR was in deep crisis, and the Soviet ruble officially continued to strengthen against the US currency. At that time the dollar was officially 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 the American currency could be bought for 30-33 Soviet rubles.

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