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These questions are explained in the article. Generally it's expected that you read things before commenting here.

deleted 4y ago
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ricardobeat 4y ago
The article says > Banks are running low on cash to issue to people, leading them to place strict limits on the amount of money people can withdraw. I interpret “running low on cash” as physical notes. This does not imply any restriction on transactions, or does it? It’s a genuine question. Note: on the topic of expectations, I’ll quote from HN guidelines available at the bottom of the page: “ Please don't comment on whether someone read an article.”
- notpushkin 4y ago
  Not sure about Lebanon, but in Russia right now you can't do pretty much anything with your money if it's USD/EUR and is in the bank account. Cash withdrawals are banned, SWIFT transfers are blocked, and there's only one bank that allows sending USD between its users (it is generally prohibited but they've found a loophole). Go figure.
  - reisse 4y ago
    Well, "withdraw in local currency, exchanged with a fair market conversion rate" is very far from "cash withdrawals are banned" or "can't do pretty much anything". And if you need cash, you can easily exchange that rubles back to good old USD cash with a 5% to 10% premium. Furthermore, SWIFT is not entirely blocked, it is just prohibitively complex and expensive for ordinary people now.
coldtea 4y ago
>These questions are explained in the article. No, they are really not, as the article sticks to using the term withdrawing, regarding what's being restricted. Generally it's expected that you read things before correcting others here. That said, and to answer the grandparent, transfers are probably also restricted, it's not just about limits on withdrawing cash. Or they need to pay in cash, because all accounts are frozen transfers-wise - so, even if they could just make do with transfers internally, they can't use them to pay any foreign imports/services/etc.

deleted 4y ago

[deleted]

The article says > Banks are running low on cash to issue to people, leading them to place strict limits on the amount of money people can withdraw. I interpret “running low on cash” as physical notes. This does not imply any restriction on transactions, or does it? It’s a genuine question. Note: on the topic of expectations, I’ll quote from HN guidelines available at the bottom of the page: “ Please don't comment on whether someone read an article.”

notpushkin 4y ago
Not sure about Lebanon, but in Russia right now you can't do pretty much anything with your money if it's USD/EUR and is in the bank account. Cash withdrawals are banned, SWIFT transfers are blocked, and there's only one bank that allows sending USD between its users (it is generally prohibited but they've found a loophole). Go figure.
- reisse 4y ago
  Well, "withdraw in local currency, exchanged with a fair market conversion rate" is very far from "cash withdrawals are banned" or "can't do pretty much anything". And if you need cash, you can easily exchange that rubles back to good old USD cash with a 5% to 10% premium. Furthermore, SWIFT is not entirely blocked, it is just prohibitively complex and expensive for ordinary people now.

coldtea 4y ago

>These questions are explained in the article. No, they are really not, as the article sticks to using the term withdrawing, regarding what's being restricted. Generally it's expected that you read things before correcting others here. That said, and to answer the grandparent, transfers are probably also restricted, it's not just about limits on withdrawing cash. Or they need to pay in cash, because all accounts are frozen transfers-wise - so, even if they could just make do with transfers internally, they can't use them to pay any foreign imports/services/etc.