What was the exchange rate for Russian Rubles to America Dollars in the 1970’s?

Question by Brotherbargain: What was the exchange rate for Russian Rubles to America Dollars in the 1970’s?
What was the exchange rate for Russian Rubles to America Dollars in the 1970’s?

Please let me know where I can find this. Thank you.

Answers and Views:

Answer by I. B. Zoxx
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.

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