The Bank of Russia temporarily restricted the issuance of cash from foreign currency accounts of Russians. This is stated on the website of the regulator.
Clients of Russian banks will be able to withdraw up to 10,000 US dollars in cash from their accounts or deposits. The remaining funds will be issued in rubles at the market rate on the day of issue.
During the period of this temporary order, the currency will be issued in US dollars, regardless of the currency of the account. Conversion of other currencies to USD will be at the market rate on the date of issue.
The Central Bank stressed that the Russians will be able to continue to keep funds in foreign currency deposits or accounts; conditions will not change.
Restrictions will be in effect from March 9 to September 9.