The Central Bank of Russia announced this Wednesday (local date) that it limited the maximum amount that a customer can withdraw in foreign currency in cash in their foreign exchange accounts to US$ 10,000, according to the agency “Sputnik”.
“A customer can withdraw up to US$10,000 in foreign currency in cash and the rest of the funds in rubles, depending on the market exchange rate on the day of withdrawal,” the statement from the Russian issuing body details. The limitation will be in effect between March 9 and September 9.
The rule released today adds that “banks during the term of the new order will not sell foreign exchange in cash to citizens.”
“The entry of dollars into the country is limited by sanctions, and it is the only reason for the special measures related to the sale of foreign currency in cash by banks”, highlights the statement.
Russian President Vladimir Putin had already banned the transfer of foreign currency abroad on February 28 and ordered companies with economic activities abroad to convert 80% of their income into rubles, according to a decree signed on Monday (7). ) by the representative to defend Russia from Western sanctions.
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