The Central Bank has decided to extend the restriction on cash withdrawals in foreign currency for another six months, until March 9, 2025. The financial regulator announced this on its Telegram channel.
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The Central Bank explained the decision by “the sanctions in force against Russia, which prohibit domestic financial institutions from buying cash from Western countries.”
For those citizens who opened a foreign currency account or deposit before March 9, 2022, the currency withdrawal limit remains in the amount of the money balance, but not more than 10 thousand dollars or its equivalent in euros. You can withdraw money if investors have not taken advantage of this opportunity before.
The Bank of Russia reminded that the remaining funds can still be received in rubles. Money placed after September 9, 2022 is issued at the Central Bank’s exchange rate on the date of issue.
- For credit institutions, the Central Bank has extended for six months the ban on charging citizens commissions for the issuance of currency for accounts or deposits.
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Non-resident legal entities will not be able to receive cash in the form of US dollars, euros, British pounds or Japanese yen until 9 March 2025. Exceptions: travel expenses. There are no restrictions for other currencies.
The Central Bank introduced restrictions on cash withdrawals on March 9, 2022. Since then, the regulator has been expanding the limits.
Author:
Anastasia Marina
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
