The Bank of Russia Board of Directors decided to cut the key rate by 300 basis points to 17.00% per annum from 11 April 2022.
Central Bank of Russia
On 18 March 2022, the Central Bank of Russia Board of Directors decided to keep the key rate at 20% per annum.
The Central Bank of Russia will widen the time period on which the calculation of the official USD/RUB exchange rate is based.
The Central Bank of Russian is introducing temporary rules for cash foreign currency operations for businesses and individual entrepreneurs.
A client can withdraw up to $10,000 in foreign currency cash, with the remainder to be withdrawn in Russian rubles.
Visa and Mastercard cards issued by Russian banks continue to work in Russia, the central bank said.
The Central Bank of Russia is reducing the commission for Forex purchases by individuals from 30% to 12%.
The Central Bank of Russia will decide on the opening of trading in certain Moscow Exchange markets depending on the situation.
The Bank of Russia Board of Directors decided to increase the key rate to 20% per annum from 28 February 2022.
Bank of Russia Governor Elvira Nabiullina says Russia has its financial messaging system (FMS) that can replace SWIFT inside Russia.