The Central Bank extended the restriction on cash withdrawals until September 9
The Bank of Russia has extended the restriction on cash withdrawals for individuals for another six months, until September 9, the regulator’s Telegram channel reported.
“The Bank of Russia has extended for another six months, until September 9, 2023, restrictions on the withdrawal of cash foreign currency. All current limits on the issuance of foreign cash to citizens and legal entities are preserved,” the message says.
The fact that the Central Bank does not see “the possibility of some systemic liberalization of foreign exchange restrictions,” the chairman of the Central Bank, Elvira Nabiullina, announced back in mid-February, promising to extend the existing restrictions. Now in Russia there are only those restrictions that are important for ensuring financial stability, she stressed then.
In the spring of last year, the Central Bank introduced foreign exchange controls against the backdrop of sanctions. Citizens can withdraw from their currency accounts up to $10,000 (or the equivalent, if we are talking about other foreign currencies) in each organization, but on condition that the deposit is opened before March 9, 2022. At the same time, an individual will not be able to receive more than $10,000 from several accounts in one bank. If the account is opened after March 9, then you can receive money from it only in terms of rubles at the market rate on the day of withdrawal.
The restriction on the sale of cash by banks at the box office is also extended: organizations can only sell dollars and euros received after April 9, 2022. In addition, until September 9, banks will not be able to charge citizens a commission when issuing currency from accounts or deposits. Currency transfers without opening an account and through electronic wallets will continue to be issued in rubles.