Well that's the spot price ~ $1980/troy ounce.
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Is it? At today's exchange rate, that's $52/gram, or about $1600/troy ounce.
USD:RUB rate is 96.05 right now.
Spot gold is 1,953.48 USD, or 187,631.75 RUB per oz.
28.3495 grams in an oz of gold.
6,618.52 RUB per gram of gold at current prices.
They are fixing the price at 5,000 RUB per gram of gold, so they are valuing the Ruble at a 32.3% premium to the current market value of RUB in gold (this moment).
Troy oz is 31 grams. But still, they are not going to trade the ruble at that rate. The arbitrage would be too great.
I'm not so sure. See what's going on in Argentina between the blue dollar (free market) and the official ARS rate. 100%+ difference between the pegged value and free market value.