Russian Banks Eye CNY Solution as Central Bank Bars Forex Sales; New Sanctions Approved
The Russian ruble has been thrown into disarray as the nation attempts to battle economic sanctions by effectively suspending the sale of most foreign currencies – while exploring the notion of allowing citizens to purch...
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Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
The Russian ruble has been thrown into disarray as the nation attempts to battle economic sanctions by effectively suspending the sale of most foreign currencies – while exploring the notion of allowing citizens to purchase China’s fiat yuan.
In a press release from the Central Bank, the top regulatory body announced that it had created a “temporary procedure” that entailed a ban on withdrawals of more than USD 10,000 from foreign currency deposit accounts....
Read More: Russian Banks Eye CNY Solution as Central Bank Bars Forex Sales; New Sanctions Approved
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This security story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
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