Russia enforces stricter currency exchange rules

[snoop1130]

Russia enforces stricter currency exchange rules
Euronews

RUSSIA -- Russia has put into force measures to keep a closer eye on exchanges from rubles to foreign currency.

The Russian Central Bank has decreed that anyone wishing to exchange more than 15,000 rubles — which is in the region of around 200 euros — will need to provide a piece of ID, proof of address and information on their nationality and date of birth.

Officials say the measures are designed to thwart money laundering and the financing of terrorist organisations.

However, the combination of a weak ruble and surging inflation means people regularly convert their ruble savings into other currency.

With the Orthodox Christmas just around the corner, the change in regulation could cause problems for many Russians.

Source: http://www.euronews.com/2015/12/28/russia-enforces-stricter-currency-exchange-rules/

-- (c) Copyright Euronews 2015-12-28

[Credo]

Perhaps they could use the Syrian Pound.

[NeverSure]

Aw, poor wittle Wussia. Its currency is nearly worthless and gets worse when even Russian people dump it in favor of other currencies. It's time for the almighty Putin to order it to go up in value. He should call the PM of Thailand for economic advice.

[aRobotnamedWAR]

i exchanged THB here in the states. ... its currently sold at 25thb to the dollar. so, in a way, the whole country is 25-30%off. hows that for a new years sale.

[CrummyJuggler]

Thoroughly confused by the previous post. If you exchanged baht at 25 per US$, you paid a 30 percent premium, not a discount.

[Srikcir]

If all it takes is 200 euros to finance terrorist organisations in Russia, that nation is in trouble.

[dutchisaan]

This just means that Putin is running out of forein currency.

[Somtamnication]

In 2016, Russia will be known at the European Venezuela.

[SheungWan]

In 2016, Russia will be known at the European Venezuela.

Some of us vaguely remember the good old days in the UK when it was illegal to take out of the country more than 20 quid cash.