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Because it's artificially held high by Russian central bank. That's why Russians are not allowed to buy USD or gold.
by trasz 4y ago
Because it's artificially held high by Russian central bank. That's why Russians are not allowed to buy USD or gold.
- throw-ru-938 4y agoRussians are in fact allowed to buy USD (provided the bank actually has the physical dollar notes). The earlier prohibition on buying foreign currency has been relaxed.
- trasz 4y agoThey aren’t. They can buy virtual USD, but can only physically withdraw up to $10k per year. And if they receive USD, they are required by law to deposit 80% of it within three days.
- throw-ru-938 4y ago> They can buy virtual USD, but can only physically withdraw up to $10k per year. This applies to withdrawing cash from bank accounts. AFAIK there is no limit on exchanging RUB cash into USD/EUR. > And if they receive USD, they are required by law to deposit 80% of it within three days. This applies to companies doing exports, not to private citizens. (Although admittedly citizens don't have many ways of getting dollars.) (Source: I'm Russian and still follow the news from there)
- rzerda 4y agoOn the contrary, tax was dropped for metallic (physical) gold operations in order to provide an alternative to dollar for ordinary people (whatever that means). But, given the current prices and trade rules for metallic gold (keep the documents from purchase, don’t scratch ingot, sell to the same bank you bought it from, otherwise price will be lower), it’s not a great alternative. Besides, price of 1g of gold was around 7500 RUB when tax was dropped, and around 4500 RUB now, so, well, happy investing.