What was the ruble exchange rate 100 years ago

It is not at all difficult to find out the exchange rate of the modern Russian ruble, this information can be obtained anywhere: on the Internet, in newspapers, on television. And what was the rate of our currency, for example, 100 years ago?

It should be noted that before the outbreak of the First World War in 1914, the Russian ruble was one of the most stable currencies in the world. After the financial reform of 1897, the Russian ruble was equated to 0.777234 grams of pure gold, second only to the US dollar (1, 50463) and the British pound sterling (7, 322382). According to Russian law, the amount of paper money in circulation should not exceed the country's gold reserves by more than 300 million rubles.

Paper credit notes could be exchanged at any time for gold coins that were freely circulating in the country. Namely, the free circulation of gold coins did not cause a stir on them, since during the reform of 1897 there was a fear that the population would hide all the gold, and it would disappear from circulation.

By the beginning of 1914, the exchange rate of the Russian ruble against major world currencies was as follows:

Austria-Hungary 1 crown = 39 kopecks.

England 1 pound sterling = 9 rubles 46 kopecks.

Belgium 1 franc = 37.5 kopecks.

Bulgaria 1 lev = 37.5 kopecks.

Germany 1 mark = 46, 3 kopecks.

Holland 1 guilder = 78 kopecks.

Greece 1 drachma = 37.5 kopecks.

Denmark, Sweden, Norway 1 crown = 52 kopecks.

Spain 1 peseta = 37.5 kopecks.

Italy 1 lira = 37.5 kopecks.

Portugal 1 milerace = 2 rubles 13 kopecks.

Romania 1 lev = 37.5 kopecks.

Serbia 1 dinar = 37.5 kopecks.

USA 1 dollar = 1 ruble 94 kopecks.

Turkey 1 piaster = 8, 5 kopecks.

Finland 1 mark = 37.5 kopecks.

France and Switzerland 1 franc = 37.5 kopecks.

As you can see, few currencies in the world could compare with our ruble. The stability of the Russian financial system collapsed with the outbreak of the war. Almost immediately after the outbreak of hostilities, all gold coins disappeared from circulation, and prices rose many times.

By the beginning of 1917, food prices in Petrograd had increased: for wheat flour by 269%, for rye flour - 243%, for salt by 500%, for sugar - 457%, for shoes and clothes - 4-5 times. Following the gold coins, all the little things that were made of silver and copper disappeared from circulation. The number of unsecured paper money has grown tenfold. The Russian Empire, which had been demonstrating stable economic growth for several decades, was approaching its collapse.