The rouble is soaring and Putin is stronger than ever - our sanctions have backfired

[ESay]

I think that something similar happened in the US, there was also no free conversion before the collapse of the Bretton Woods system. Nominally, the dollar was pegged to an ounce of gold, but in reality this exchange worked only for foreigners.
You cannot directly use foreign currency in any country anyway. It's illegal.

These coupons were issued to Soviet citizens not for Berezki, it was just a hole in the system. It was intended for business trips to foreign countries. Berezki were only for foreigners.

It is more about the currency control. A free exchange of foreign currency was prohibited in the SU. But you can't exclude circulation of the currency entirely as long as there are foreign citizens working and living in the country or some of own citizens having trips aboard. Berezki was a measure to keep this currency under control.

Not sure about the Soviey citizens. I have heard that some of them did get these cheques.

My response was more for people here who are so proud that the ruble is so strong now. It is a result of the currency control, as it was in the SU. Those shops are only the tip of an iceberg. If I remember correctly, the Russian government imposed a rule demanding the exporters convert not less than 80% of the revenues in the ruble. Also, there are some limitations in the Moscow stock exchange and so on.

I won't be surprised if there will be some limitations for the population also after a while.

 

[rupol2000]

It is more about the currency control. A free exchange of foreign currency was prohibited in the SU. But you can't exclude circulation of the currency entirely as long as there are foreign citizens working and living in the country or some of own citizens having trips aboard. Berezki was a measure to keep this currency under control.

There could be no free exchange in the USA either. You can, for example, exchange a dollar for a mark, then buy gold for a mark. This is a circumvention of the ban on the exchange of dollars for gold in the United States.

Not sure about the Soviey citizens. I have heard that some of them did get these cheques.

My response was more for people here who are so proud that the ruble is so strong now. It is a result of the currency control, as it was in the SU. Those shops are only the tip of an iceberg. If I remember correctly, the Russian government imposed a rule demanding the exporters convert not less than 80% of the revenues in the ruble. Also, there are some limitations in the Moscow stock exchange and so on.

I won't be surprised if there will be some limitations for the population also after a while.

No. Currency control is now carried out by the policy of the Central Bank. The exchange is free.

Previously, they always weakened the ruble, because foreign exchange earnings were exchanged for emission rubles.

 

[ESay]

There could be no free exchange in the USA either. You can, for example, exchange a dollar for a mark, then buy gold for a mark. This is a circumvention of the ban on the exchange of dollars for gold in the United States.

No. Currency control is now carried out by the policy of the Central Bank. The exchange is free.

Previously, they always weakened the ruble, because foreign exchange earnings were exchanged for emission rubles.

It was quite understandable to have the currency controls when the Bretton Wood system existed. Because the US dollar/gold rate was fixed and the US government had to keep this rate still. But almost 50 years have passed when this system was abolished. Enabling free currency rates and flows was one of the reasons why it was done.

Not only the Central Bank. By presidential decrees also. Though it doesn't matter. Because all governmental structure in Russia is just an extension of presidential administration.

Валютные ограничения: новые правила для валютных резидентов России | Buzko Krasnov

Рассматриваем новые валютные ограничения в отношении российский валютных резидентов, введенные с 28 февраля 2022 г. – с обновлениями от 1 июня 2022 г.

www.buzko.legal

This link explains the currency control in Russia from a legal point of view.

 

[rupol2000]

It was quite understandable to have the currency controls when the Bretton Wood system existed. Because the US dollar/gold rate was fixed and the US government had to keep this rate still. But almost 50 years have passed when this system was abolished. Enabling free currency rates and flows was one of the reasons why it was done.

The reason for this was the European rebellion and the introduction of floating rates in the European monetary system. They abandoned the dollar, so there was no point in it.

Not only the Central Bank. By presidential decrees also. Though it doesn't matter. Because all governmental structure in Russia is just an extension of presidential administration.

No, the central bank is independent and partly subordinate to the parliament

 

[ESay]

No, the central bank is independent and partly subordinate to the parliament

Yeah, sure. Also, the parliament is a totally independent branch. You Russians never cease to amuse me.

 

[rupol2000]

Yeah, sure. Also, the parliament is a totally independent branch. You Russians never cease to amuse me.

such an opinion about the "king" is often found among the poorly educated population, but there is no real evidence for this.