Central Bank of Russia loosens restrictions on foreign cash purchases.
The increased supply of foreign cash may affect the crypto market in the country as currency restrictions have been a driver of increased demand for digital coins.The Central Bank of the Russian Federation has lifted one of the restrictions on the sale of U.S. dollars and euros in cash to private individuals imposed amid Western sanctions over the war in Ukraine, the Interfax news agency reported.
The regulator explained that these may include transactions with non-resident banks as well as foreign cash deposited by Russian legal entities. The adjustment will allow banks to increase the supply of cash dollars and euros, its press service said, noting that other restrictive measures will remain in place until March 9, 2023, as announced earlier this year.
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