Central Bank extended restrictions on foreign currency cash withdrawals for another six months

The Bank of Russia has extended for another six months, until March 9, 2024, restrictions on withdrawing foreign currency in cash, the regulator’s press service reports. This is being done in connection with sanctions prohibiting Russian financial institutions from purchasing the cash currency of Western countries. As before, the allowed withdrawal amount is $10 thousand.

For banks, the ban on charging citizens a commission when issuing currency from accounts or deposits has been extended for six months. Currency transfers are issued in rubles without opening an account and through electronic wallets. Non-resident legal entities will not be given cash in US dollars, euros, pounds sterling, or Japanese yen until March 9, 2024; there are no restrictions on other currencies, according to a release from the Central Bank.

Author: Elina Akhmetova