Russia’s central bank stops trade with foreign currency
The Russian central bank has issued fresh guidelines to curb trade with foreign currency in the wake of Western sanctions after Russia’s invasion of Ukraine.
With the new guidelines, banks in the country will no longer be able to sell foreign cash to Russians.
The package of measures which came into force Wednesday is to remain in effect for six months.
However, cash may only be withdrawn in foreign currency from a foreign exchange account up to $10,000.
For higher amounts, the rest is to be paid out in roubles at the daily exchange rate.
There are no restrictions on exchanging foreign currencies for roubles.
Meanwhile, sanctions imposed over Russia’s war of aggression against Ukraine have caused the rouble to plummet and made it harder for Russia to access foreign currencies.
In addition, the Russian central bank’s reserves totalling more than $600 billion were effectively blocked.
(dpa/NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
States
Navy uncovers 43,000 litres of illegally refined petroleum products in Rivers
The navy said the illegal refining infrastructure was subsequently dismantled.
Heading 3
CAN, NUT hail release of abducted Oyo pupils, teachers after 56 days in bandits’ custodyÂ
The Oyo State chapter of the Christian Association of Nigeria described the release of the pupils and teachers an act of God’s faithfulness and mercy.
Abuja
Police rescue four kidnap victims after gun battle with Abuja kidnappers
Ms Adeh said the FCT Commissioner of Police, Ahmed Sanusi, pledged to ensure that those responsible for the heinous act would be arrested and brought to justice.
States
Ex-Edo governor Oshiomhole mourns Archbishop Augustine Akubueze
Mr Oshiomhole described the late cleric as a courageous witness to the gospel, a compassionate shepherd and a humble servant of God.
World
I already ordered U.S. forces to destroy Iran if I’m assassinated: TrumpÂ
Mr Trump’s statement followed Israel’s intelligence revealing Iran’s plot to assassinate the American president.
Heading 2
One dies, seven injured as Gombe assembly complex collapses
Mr Danladi quoted Mr Yahaya as saying appropriate measures would be taken in line with the outcome of the investigation and applicable standards.
