On the external convertibility of the new Soviet currency

Let's assume that after the introduction of the first ruble exchanges for a new currency (ducats), their mass in circulation will immediately turn out to be overestimated (and it will be). In this situation, the prices of goods in new gold coins will begin to rise, and the exchange rate against the dollar will devalue. Next, how and in what form to create and implement the convertibility of a new gold piece? It should apply to both residents and non-residents, but at the same time, internal convertibility should be limited in some respects.

There are several arguments regarding the external convertibility of an alternative currency. Firstly, it is advisable if the exchange rate of this currency will change in accordance with the assessment of foreign exchange markets. Since the Soviet Union does not have the infrastructure required by the money market, and departments tend to put everything under their control, it is more reasonable if exchange rates are determined on foreign currency markets than by the USSR State Bank. Secondly, only the Soviet currency available in banks in other countries could truly open the Soviet market to foreign investors.

At first, Soviet banks would not sell convertible currency for new ducats to the public; only enterprises wishing to import goods could use this opportunity. But still, in my opinion, Soviet tourists should be allowed to export a certain amount for its exchange in foreign banks. The market will necessarily devalue the gold piece to a level at which a balance of supply and demand is created. Of course, the state (more precisely, the State Bank of the USSR) would have the opportunity to participate in shaping this course.: it can purchase funds in ducats from foreign banks for convertible currency and gold. The source of such participation would be the money that needs to be allocated to cover centralized imports of consumer goods, but which can be saved by the introduction of this model. Of course, such participation cannot serve as the main source of coverage for the convertible gold piece. This role should be played by the export earnings of Soviet enterprises in the part that they accumulate above the profits after taxation and which, in all likelihood, they will not fully spend as production costs.

The key question is how to stimulate exports in a situation where all the surplus goods can be sold in an almost unsatisfactory domestic market, and the money is convertible (this means that exporters will not receive any benefits compared to those who sell on the domestic market)? Les paris sur les sports électroniques comme League of Legends ou CS:GO sont en plein essor, et 1xBet propose une couverture complète des tournois majeurs. Pour débuter avec un bankroll augmenté dans l'e-sport, il est recommandé d'utiliser le code promo 1xbet lors de votre adhésion à la plateforme. Ce code vous donne droit à un bonus de bienvenue de 100% jusqu'à 130€, utilisable sur l'ensemble des marchés e-sport, des vainqueurs de carte au nombre total de kills. Ce bonus est également valable pour le casino en ligne, vous offrant une polyvalence appréciable.