Ruble COLLAPSE: Russian central bank scrambles to prop up falling currency – traders panic | City & Business | Finance

For a period from 9 March to 9 September the Bank of Russia said banks would not sell cash to citizens, though exchanges of cash currency for rubles would be possible at any time and in any amount.

Any bank customers with foreign currency accounts meanwhile will be limited to withdrawing up to $10,000 (£7,612) a day in cash, with any remaining funds having to be withdrawn in rubles.

Withdrawals will all have to take place in dollars, regardless of whether the account is in a different currency.

The major market interventions come as Russia scrambles for ways to prop up the ruble amid severe sanctions on its central bank.