Banks in countries of the Eurasian Economic Union are tightening the terms for handling Russian rubles amid a significant surplus of cash currency. The Moscow Times reports.<\/p>\n
Belarusian banks have introduced the strictest restrictions. In particular, Neo Bank Asia has imposed a 20% fee for depositing cash Russian rubles into individuals\u2019 accounts. Other major Belarusian banks have raised the fee for non-residents to 15%, up from 2\u20135% previously.<\/p>\n
In Kazakhstan, Bank CenterCredit increased the fee for depositing cash rubles from 5% to 10%. Halyk Bank had previously raised its fee to 15% for individuals and 10% for businesses.<\/p>\n
In Kyrgyzstan, EcoIslamicBank doubled the fee for depositing rubles for transfers through money-transfer systems and SWIFT, raising it to 10%.<\/p>\n
Banks in the EAEU countries began tightening their terms as early as June. In August, several banks in Kazakhstan and Belarus also introduced new tariffs. The measures are attributed to a surplus of Russian cash rubles. Banks face costs associated with storing, transporting and verifying the currency, while demand for the ruble outside Russia remains limited.<\/p>\n
According to the National Bank of Kazakhstan, exchange offices in the country purchased 6.5 billion Russian rubles worth approximately $77 million in April alone. In May, the volume fell to 4.7 billion rubles. As a result, handling large volumes of Russian cash is becoming increasingly unprofitable for banks.<\/p>\n","protected":false},"featured_media":152060,"menu_order":0,"template":"","newscat":[9],"newstag":[],"issues":[],"class_list":["post-152059","news","type-news","status-publish","has-post-thumbnail","hentry","newscat-novosti"],"_links":{"self":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/news\/152059","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/types\/news"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/media\/152060"}],"wp:attachment":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/media?parent=152059"}],"wp:term":[{"taxonomy":"newscat","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/newscat?post=152059"},{"taxonomy":"newstag","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/newstag?post=152059"},{"taxonomy":"issues","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/issues?post=152059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}