As it scrambles to keep the ruble’s value from plummeting further, Russia’s central bank on Wednesday announced that it is prohibiting citizens from using rubles to buy dollars and other hard currencies for the next six months.
“Banks will not sell hard currency to citizens during the period of the temporary order,” the central bank said in a statement posted to its website after midnight Moscow time. The order is to expire Sept. 9.
The central bank said it also will limit to $10,000 the amount of U.S. dollars that clients can withdraw from hard-currency accounts at Russian banks. Anyone wanting to withdraw more than that from a hard-currency account will have to take the balance in rubles, said the central bank, which is known as the Bank of Russia.
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