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If you had bought dollars a long time ago and held them, what kind of return could there have been?
$BTC
Thirty years ago (in 1996), $1000 were worth from 4.66 million to 5.56 million non-denominated rubles. After the 1998 denomination (when three zeros were removed), this amount would have been from 4660 to 5560 rubles at an average annual Central Bank exchange rate of about 5121 rubles per dollar.
The average official US dollar exchange rate set by the Bank of Russia in July 2006 was 26.91 rubles per unit. Thus, the equivalent of this amount varied at around 26,910 rubles.
The return is 525% over 10 years.
Ten years ago, in the summer of 2016, $1000 at the official exchange rate of the Bank of Russia were worth about 64,000 rubles.
The return over 20 years is 1249%.
At the moment, $1000 is 77,500 rubles; the return is 1513% over 30 years.
But many people still remember the dollar exchange rate being above 100 rubles per unit at the end of 2024; then the return was 1960% over 30 years.