The Central Bank of Russia has established a new procedure for cash operations with foreign currency in cash - Beautiful Lifestyle Magazine

The Central Bank of Russia has established a new procedure for cash operations with foreign currency in cash

Центробанк установил новый порядок ведения кассовых операций с наличной иностранной валютой
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Central Bank Directive dated 01/30/2020 # 5396-U approved the procedure for cash operations with foreign currency in cash at authorized banks.

According to the new rules, the authorized banks will establish the following procedure:

  • Customers’ paying in with foreign currency in cash for crediting to bank accounts and deposits;
  • Customers’ withdrawal of foreign currency in cash with debiting amounts from bank accounts and deposits;
  • Foreign currency translation

Also, the instruction provides the possibility of using electronic document management executed in compliance with the requirements established by the instructions.

The directive will enter into force on July 1, 2020.

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