The Central Bank forbade citizens to withdraw more than 10 thousand dollars from foreign currency accounts

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The Central Bank forbade citizens to withdraw more than 10 thousand dollars from foreign currency accounts
The Central Bank forbade citizens to withdraw more than 10 thousand dollars from foreign currency accounts
9 March, 09:35EconomyPhoto: 1MI
The Bank of Russia announced a temporary procedure for operations with cash currency. It will be valid until September 9 this year.

- All client funds on foreign currency accounts or deposits are saved and accounted for in the deposit currency, the client can withdraw up to 10 thousand US dollars in cash, and the rest of the funds - in rubles at the market rate on the day of issue, the regulator said.

The basis for the market rate on the date of issue will be the data on the weighted average exchange rate. This rate is calculated on transactions concluded on the day preceding the day of issuance.

The Bank of Russia noted that 90% of the owners of foreign currency deposits or accounts will be able to receive their funds in cash in full, since about 90% of foreign currency accounts in Russian banks do not exceed the amount of 10 thousand dollars. You can get the currency at the cash desk of the bank.

At the same time, customers will be able to open new currency accounts and deposits.

Recall that the Bank of Russia announced a temporary reduction in the volume of financial statements disclosure. This is due to Western sanctions against the backdrop of the situation in Ukraine.

On February 21, the President of Russia announced the recognition of the DNR and LNR. On February 24, a military special operation of the Russian Federation to protect Donbass began. Against this background, Western countries have imposed a number of sanctions, including against the banking sector. The sanctions also apply to payment systems. New restrictions led to the destabilization of the Russian economy and the devaluation of the ruble. Many foreign companies have announced the suspension of activities in Russia and Belarus.

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