The Central Bank of Russia extended the ban on banks from receiving commissions when issuing foreign currency until September 9, 2023, informs editor’s press service.
From March 9 to September 9, credit institutions will not be able to receive commissions from individuals when issuing cash foreign currency equal to their balance from their foreign currency deposits or accounts as of March 9, 2022 Moscow time. Central Bank reports opened at this bank (regardless of the currency of the account or deposit).
In addition, banks will not be entitled to charge commissions for the conversion of foreign currency into US dollars or euros when issuing foreign currency from any of the foreign currency deposits or accounts of citizens.
Elvira Nabiullina, ex-president of the Central Bank of Russia statedIn March, the current currency restrictions for individuals will be extended, and the probability of a key rate increase this year will be higher than its reduction.