The Bank of Russia eased restrictions on operations with foreign currency in cash for individuals

In the Information dated 04/08/2022, the Bank of Russia reported that:

  • from April 11, 2022, individuals who had currency accounts or deposits opened before March 9, 2022 and who have not yet chosen the established limit for receiving cash currency from their accounts (it is $ 10,000) will be able to receive cash not only dollars, but and euro. At the same time, the total withdrawal limit remains — no more than 10,000 dollars or their equivalent in euros. Funds above this limit from your accounts until September 9, 2022 can still be received only in rubles;
  • currency exchange in the above case is carried out at the rate of the bank, but the amount issued cannot be less than the amount calculated using the official rate of the Bank of Russia on the day of issue;
  • from April 18, 2022, banks will again be able to sell cash to citizens, but only the one that came to the cash desks of banks starting from April 9, 2022. The Central Bank of the Russian Federation explained that this means that banks must keep cash received before April 9 in order to ensure the issuance of cash within the $10,000 limit to customers who have not yet withdrawn money from previously opened foreign currency accounts. At the same time, banks now have additional cash currency, because people are starting to change the currency back to rubles.