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Russia raises ceiling for cross-border transactions for individuals -Breaking


© Reuters. FILE PHOTO – A view of the Central Bank Headquarters in Moscow, January 30, 2015 REUTERS

(Reuters) – Monday’s announcement by the Russian central bank that Russian citizens and residents of friendly countries will have access to foreign currency overseas equivalent to as much as $50,000 per month, up from $10,000 previously.

The central bank announced that non-residents of unfriendly countries can now send money abroad up to the amount of their incomes or salaries, without opening accounts. This is in addition to eliminating the $10,000 monthly limit.