The ruble loses its convertibility
23:20
The ban on the sale of foreign currencies by banks, the introduction of a limit on withdrawals from foreign currency deposits and their top-down conversion into dollars – these are new decisions of the Bank of Russia. They are to apply for the next six months.
Pursuant to the decision of the Russian central bank, customers of Russian commercial banks will be able to withdraw up to $10,000 from their foreign currency deposits. Regardless of the currency in which the deposit was made, the payment can only be made in dollars. Above this amount, you can withdraw money from foreign currency deposits only in rubles.
If someone wants to keep a previously opened currency deposit, they will still be able to do so. Interest on such deposits will be calculated as usual in the currency in which the deposit was opened. But banks will no longer be able to open new foreign currency deposits. According to an order of the Bank of Russia, the ban is to remain in force until September 9.
"Banks will also not sell currencies to citizens during these temporary rules. Currency can be exchanged for rubles at any time and for any amount," the Bank of Russia said in a press release.
