VTB director Andrei Kostin proposed introducing a limit on ruble transfers abroad, similar to the Central Bank’s limit on foreign currency withdrawals of one million dollars per month. In his opinion, this should help strengthen the ruble. He proposed setting the threshold at 100 million rubles a month.
Andrei Kostin suggested that the Central Bank is already considering such a measure “along with other options”, and the final decision “will depend on the evolution of the situation with the ruble,” RBC reports.
Last spring, the Central Bank set the threshold at $5,000 a month and then raised it several times. At the end of June 2022, the regulator allowed Russians to transfer up to $1 million per month to foreign accounts.
The Central Bank also extended the restriction on cash withdrawals in foreign currency for 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 No more than 10 thousand dollars or its equivalent in euros can be withdrawn from open currency accounts.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.
Author:
Karina Pardaeva
Source: RB
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