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Russian central bank to give banks more cash for ATMs -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: The Central Bank’s Moscow headquarters is covered by a Russian state flag on March 29th, 2021. The sign says “Bank of Russia”. REUTERS/Maxim Shemetov/File Photo

MOSCOW, Reuters – Russia’s central banks announced Friday they were increasing cash transfers to ATM machine replenishment banks. It is this latest effort by the regulator to preserve financial stability in the wake of Russia’s invasion and occupation of Ukraine.

On Thursday, Russia had a cash shortage of 111.3 billion Russian rubles (1.34 billion), which was the highest in Russia since March 2020 according to data from central banks.

As part of its support for banks, the central bank stated earlier that clients of certain Russian banks will not be allowed to use their cards overseas or with mobile payments systems from Apple (NASDAQ) and Google (NASDAQ).

($1 = 82.9870 roubles)

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