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Monday, December 28, 2015

Russia Enforces Stricter Currency Exchange Rules

Russia Implements Stricter Rules On Currency Exchange
Source: www.rt.com

 

The Central Bank of Russia has now started stricter currency exchange rules for everyone in the country.

Effective Sunday, December 27 the buy and sell of anything above the amount of 15,000 rubles, which is about $207 U.S. dollars as of December 29 will now require customer identification and the bank to fill in a form.

 

 

RT reports, “The new law doesn’t limit foreign exchange. According to Gazprombank spokesman Yuliya Elsukova, it is aimed only at combating money laundering and terrorist financing.”

Also keep in mind that if you must give them your documents they will be kept on record for a minimum of five years. 

So if you’re thinking about traveling to Russia anytime soon, you should remember this new law.

 

About Currency Exchange International
Currency Exchange International (CXI) is a leading provider of foreign currency exchange services in North America for financial institutions, corporations and travelers. Products and services for international travelers include access to buy and sell more than 80 foreign currencies, multi-currency cash passport’s and traveler’s cheques. For financial institutions, our services include the exchange of foreign currencies, international wire transfers, purchase and sale of foreign bank drafts, international traveler’s cheques, and foreign cheque clearing through the use of CXI’s innovative CEIFX web-based FX software www.ceifx.com.
Posted By Jacquelyn McMullen @ceifx at 12:00 PM
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