OREANDA-NEWS. The Bank of Russia introduces a temporary procedure for operations with cash currency, according to the website of the regulator.

The innovation will be valid from March 9 to September 9, 2022.

“All client funds on foreign currency accounts or deposits are saved and accounted for in the deposit currency, the client can withdraw up to ten thousand US dollars in cash, and the rest of the funds in rubles at the market rate on the day of issue,” the publication says.

It is also noted that about 90% of foreign currency accounts in Russian banks do not exceed $10,000, so 90% of holders of foreign currency deposits will be able to receive their money. Transactions will go through the cashier.

At the same time, it may take several days for credit institutions to bring the required amount in cash to a specific branch.

Earlier, the Central Bank set a maximum monthly amount for transfers abroad in favor of spouses and close relatives for resident individuals - $5,000. We are talking about parents, children, grandfathers, grandchildren and grandmothers.

A letter signed by Deputy Chairman of the Bank of Russia Yuri Isaev was sent to the bankers, according to the publication.

“This is a forced measure and is being done to ensure that the currency does not flow out of the country and does not put additional pressure on the ruble exchange rate in the current situation,” Anton Lopatin, senior director of the Fitch analytical group for financial institutions, explained.

According to the order, it supplements earlier decisions aimed at ensuring financial stability.

Earlier it became known that the Central Bank is going to increase the limit of one operation through the FPS to one million rubles.