Russia’s central bank announced on Thursday that it was imposing restrictions on Russian businesses’ access to foreign currency for at least the next six months.
During the six-month period, Russian companies and Russian businessmen who need US dollars, Japanese yen, British pound sterling or euros in cash can raise just $ 5,000 – and only for business trips abroad.
The central bank, which has been taking steps for days to ensure that there will be no foreign exchange outflows from Russia due to sanctions imposed on the country for its invasion of Ukraine, said in a statement that the $ 5,000 limit could to be increased only in special cases and after consultation with the regulatory authorities.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
