The Central Bank extended the restriction on cash withdrawals in foreign currency for another six months. No more than 10 thousand dollars or its equivalent in euros can be withdrawn from open currency accounts. The limits were introduced in March 2022 and will be extended for a second time.
The Bank of Russia has extended the restriction on cash withdrawals in foreign currency until March 9, 2024. The regulator announced this on its website.
According to the order of the Central Bank, it is prohibited to withdraw more than 10 thousand dollars or its equivalent in euros from foreign currency accounts opened before March 9, 2022 if the holders of these accounts have not exercised this option before.
“For banks, the ban on charging commissions from citizens for issuing currency from accounts or deposits has been extended for six months,” the Bank of Russia noted.
Funds above the limit can be received in Russian rubles.
“The amount paid cannot be less than that calculated on the day of payment at the official exchange rate of the Bank of Russia for funds deposited in the account before September 9, 2022,” explained the Central Bank.
The Central Bank introduced restrictions on cash withdrawals on March 9, 2022. Since then, the regulator has been expanding the limits.
Author:
Kirill Bilyk
Source: RB
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