Ukraine Central Bank Limits Cash Withdrawals Amid Russian Assault
The central bank of Ukraine has capped withdrawals of cash in national fiat and banned those in foreign currency. The monetary authority says the measures aim to ensure the functioning of the nation’s financial system under the martial law introduced in response to Russia’s military offensive. National Bank of Ukraine Restricts Hryvnia Withdrawals, Fixes Exchange Rates As citizens were lining up at ATMs and bank offices on Thursday, the National Bank of Ukraine (NBU) adopted a resolution limiting daily cash withdrawals in local currency to 100,000 hryvnia (approx.....
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According to a report on Zero Hedge, "My Bank," one of Russia's top 2oo lenders by assets, has suspended all cash withdrawals. The lockdown is expected to last for a week. This news follows the recent statement by the Russian Central Bank warning citizens against the speculative and legal risks of Bitcoin. The Russian Ruble is experiencing downward pressure from the current "risk-off" environment afflicting emerging market economies. It's possible this currency situation is responsible for the bank freeze. My Bank shuts down cash withdrawls to prevent a bank run? This story, together with....
Germany’s Deutsche Bank has become the latest financial services giant to confirm it’s leaving Russia over Moscow’s military assault on Ukraine. The bank has been reducing its Russian exposure since 2014 when Russia annexed Crimea and the conflict in Eastern Ukraine erupted. Amid Ongoing War in Ukraine, Deutsche Bank Pulls Out of Russia Deutsche Bank, Germany’s largest banking institution, is scaling down operations in the Russian Federation. The bank announced its move in a statement posted on Twitter late on Friday, condemning Russia’s invasion of....
The Central Bank of Russia reported the country's money supply was 65.3 trillion rubles as of Feb. 1 — roughly $629 billion with the recent drop against the U.S. dollar. After climbing to a price of more than $41,000 on Monday, Bitcoin’s market capitalization has surpassed that of the Russian ruble. According to data from CoinMarketCap, the market cap of Bitcoin (BTC) surged to roughly $780 billion on Monday amid the price rising to $41,391, a 5.7% increase over the last 24 hours. BTC’s market capitalization exceeds the money supply of the Russian ruble, which according to the Central Bank....
Anonymous has attacked the Central Bank of Russia (CBR), according to a post on social media. The hacking group, which vowed to hit Russian government websites after Moscow launched its military assault on Ukraine, now says it’s also targeting foreign companies still operating in Russia. Anonymous Threatens to Release Thousands of Bank of Russia Files A twitter account associated with Anonymous announced on Thursday that the collective has hacked the Central Bank of Russia (CBR). “More than 35.000 files will be released within 48 hours with secret agreements,”....
Amid the Ukraine-Russia conflict, the Russian ruble has managed to rebound despite the strict sanctions imposed against the Russian Federation. The country’s central bank has taken a few steps to protect the nation’s currency as the Bank of Russia revealed a fixed price for gold and rubles. Furthermore, after pegging the fiat currency to gold, on Friday Russia’s central bank announced a surprise interest rate cut that starts Monday.
EU Leaders and Western Allies Create Stricter Sanctions Amid Ruble Rebound
At the end of February, after the conflict started....