The Central Bank allowed Russians and citizens from friendly countries to transfer up to $150 thousand a month from their accounts abroad, according to the regulator’s website. Previously, the limit was $50 thousand per month, RBC reports.
For Russians, the weakening of the restrictions previously imposed by the Central Bank means that opportunities for transfers are expanding, Artem Deev, head of the analytical department of AMarkets, explained to Invest-Foresight. The gradual removal of the regulator’s measures also gives an understanding that the most difficult period in the foreign exchange market has passed, it is possible to return gradually to the previous usual instruments. This is a stabilizing moment for the currency and the market as a whole.
“The ruble did not react to the relaxation of restrictions in any way, and this is unlikely to happen in the future,” the analyst emphasizes. – Now it is much more important for the national currency that dollars and euros are in demand to a much lesser extent than before. After all, the volume of import to Russia in the last two months has decreased by more than 50%, that is, the currency is simply needed in smaller quantities. This determines mainly the ruble exchange rate, together with high oil prices on the global market.”