The Central Bank of Russia banned banks from selling currency to people
The Bank of Russia for the next six months has established a new procedure for withdrawing foreign currency from accounts: no more than 10 thousand and only in dollars. In addition, the Central Bank banned banks from selling cash to citizens.
As reported on the website of the Central Bank, from March 9 to September 9, 2022, a client of a Russian bank will be able to withdraw up to 10,000 US dollars in cash from his deposit, and the rest in rubles at the market rate on the day of issue.
The Central Bank of the economy that in Russian banks 90% of foreign currency accounts do not exceed the amount of 10 thousand US dollars, that is, dollars from ten holders of foreign currency deposits or accounts must be transferred in full to their funds in cash.
During the period of this temporary order, the currency will be issued in US dollars, regardless of the currency of savings. Converting other currencies to US dollars will depend on the market rate on the date of issue.
Citizens acquire new currency accounts and deposits, but withdraw funds from them while the temporary procedure for operations with cash currency is in effect, it will be possible in rubles at the market rate on the day of issue.
Banks will not be during the period of validity of the temporary procedure for the sale of cash currency to citizens. It will be possible to change the cash currency into rubles at any time and in any amount.
Receive messages from your deposits or accounts of foreign currency clients of banks without exception. Banks may take several days to receive a large amount of cash in a particular branch.
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