The Central Bank has restricted operations with cash currency

The Central Bank has restricted operations with cash currency until September 09, 2022.
From March 09 to September 09, 2022, the regulator introduced a temporary procedure for issuing funds from foreign currency deposits or accounts of citizens.

During the specified period, customers can withdraw up to 10,000 US dollars in cash from their accounts or deposits, the remaining funds are in rubles at the market rate on the day of issue. The currency will be issued in US dollars regardless of the currency of the account. The conversion of other currencies into the US dollar will take place at the market rate on the day of issue.

The market rate on the day of issue will be determined on the basis of data on the weighted average exchange rate of the respective currencies calculated on transactions concluded at organized auctions on the day preceding the day of issue.

At the same time, there are no restrictions for storing funds on foreign currency deposits or accounts, all funds will be saved and accounted for in the currency in which the account or deposit was opened. The terms of the deposit or account do not change. Interest on deposits will be accrued as usual, in the currency in which the deposit was opened. Citizens will also be able to open new currency accounts and deposits, but funds can be withdrawn from them only in rubles at the market rate on the day of issue.

As the Central Bank points out, banks will not sell cash currency to citizens during the validity period of the temporary order, however, it will be possible to exchange foreign currency for rubles at any time without restrictions.

It will be possible to receive foreign currency from an account or deposit at the cash desks of bank branches, however, it may take some time to bring the necessary amount in cash to a particular branch.