Ruble is dead

[terr]

New "temporary measures" by Russian Central Bank - until Sept 9th.

1. If you have a foreign currency account in the bank, you can withdraw maximum $10K. The rest you will be able to withdraw in rubles.

2. You cannot withdraw in any currency other than dollars. If you had an account in some other currency, it will be converted to dollars then rule 1 applied.

3. You cannot buy foreign currency.

 

[ZBZB]

Stopped trading on IB yesterday against the dollar.

 

[terr]

There are enormous lines reported to the "Tinkoff" ATMs in Moscow right now. I wonder whether the ATMs are still dispensing dollars until they run out.

 

[terr]

Am wondering about that $10K restriction. Is the Russian bank just basically confiscating (ok, "borrowing" until Sept 9th) all the above-$10K funds for their own use?

 

[ZBZB]

Am wondering about that $10K restriction. Is the Russian bank just basically confiscating (ok, "borrowing" until Sept 9th) all the above-$10K funds for their own use?

You get roubles.

 

[ph1l]

You get roubles.

https://youtu.be/fRAFEb7ON0c

 

[kroxobor]

Am wondering about that $10K restriction. Is the Russian bank just basically confiscating (ok, "borrowing" until Sept 9th) all the above-$10K funds for their own use?

It's just USD liquidity crunch in Russian banking system I guess. Russian CB need to replenish reserves before it can resume USD lending to banks but it takes time.

 

[The_Krakenite]

Time to load up the truck!

 

[RedSun]

And the rise of Chinese YMB.

 

[blueraincap]

Stopped trading on IB yesterday against the dollar.

So you can still trade RUB against other fx?