THIS MESSAGE (MATERIAL) IS CREATED AND (OR) DISTRIBUTED BY A FOREIGN MASS MEDIA PERFORMING THE FUNCTIONS OF A FOREIGN AGENT AND (OR) A RUSSIAN LEGAL ENTITY PERFORMING THE FUNCTIONS OF A FOREIGN AGENT.
The Bank of Russia introduces a temporary procedure for cash transactions for the next six months, from March 9 to September 9, 2022.
As reported on the website of the regulator, during this period, banks will not sell cash to citizens. At the same time, it will be possible to exchange currency for rubles at any time.
It is also noted that funds from foreign currency deposits will be issued in the amount of up to $10,000, the rest – in rubles at the rate on the day of issue. At the same time, regardless of the currency of the account, the withdrawal will be made only in US dollars, the conversion will be carried out at the market rate on the day of issue.
The message notes that all customer funds on foreign currency accounts or deposits will be “saved and accounted for in the deposit currency”, interest on deposits will be accrued in the usual manner. It is also clarified that citizens “will be able to open new foreign currency accounts and deposits,” however, it will be possible to temporarily withdraw funds from them only in rubles at the market rate.
Recall that earlier the Bank of Russia limited the transfers of individuals abroad to the amount of $5,000 per month. This applies to both transfers made by resident individuals to other residents of the Russian Federation, and transfers to non-residents, including relatives.
You can follow the chronicle of events around Ukraine on March 9 here.
Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
