Banks sell “old” dollars to Russians at a discount: “new” ones will cost more

Against the background of the strengthening of the ruble, exchange offices have come up with alternative ways to make money on consumers

The Russian currency continues to strengthen. And this trend will probably continue for some time. In any case, this scenario seems most likely to experts. Actually, this is indicated by the preparation of exporters for the beginning of the tax period and the likely increase in the key rate, which may occur on October 27. As for banks, they are taking advantage of the gradually growing demand of Russians for foreign exchange transactions and are trying to make money from the situation. In some exchange offices, for example, they actively sell “old” dollars, in others, they require a certificate of the origin of ruble income.

The ruble is strengthening day by day. this week. The Central Bank announced the dollar exchange rate for October 26 – 93.15 rubles. (37 kopecks less than the previous one). The official euro exchange rate is 98.65 rubles. (minus 90 kopecks). Several factors contributed to this trend. First: the government’s decision on the mandatory sale of foreign currency earnings for exporters (adopted a week earlier), which should increase the volume of foreign currency within the country. The second is the onset of the tax period, when companies sell foreign currency and transfer taxes in rubles to the budget. And the third reason is the expectation that at the next meeting on Friday, the Central Bank of the Russian Federation will raise the key rate from 13% to 14%.

Against the background of the strengthening of the ruble, MK decided to bypass a number of exchangers and find out whether it is so easy to buy currency now. During our raid, we found out that there are banknotes at bank cash desks and exchange offices, but not everyone can receive them. So, for example, in one of the banks we were asked to confirm the sources of ruble income, and in the other two they offered to buy dollars, but only of the old type. Is this legal and what are the requirements in Russia regarding this?

According to Alexander Balakirev, a specialist at the Intercession law firm, in fact, banks have legal grounds for such a request. Cash exchange is regulated by the Federal Law “On Combating the Legalization (Laundering) of Proceeds from Crime and the Financing of Terrorism.” According to this law, the bank is obliged to identify the client before accepting service – in most cases, using passport data. Moreover, if the purchase/sale amount does not exceed 40 thousand rubles (if you are selling currency, then the equivalent of this amount), then the bank is not obliged to identify the client, unless bank employees suspect that the person changing the funds has violated or may violate law.

“At the same time, on the basis of this law, the purchase or sale of cash foreign currency equivalent to or exceeding 600 thousand rubles is subject to mandatory control,” continues MK’s interlocutor. – That is, the bank has the right to request from an individual documents confirming the origin of funds or the legality of their possession. Such documents may be certificates in form 2-NDFL, tax returns in form 3-NDFL and other documents that can confirm the legality and period of ownership of funds.”

Meanwhile, MK found out that usually those who change currency order in advance from several banks the amounts they want to change. And often they choose several places so as not to exceed the limit of 600 thousand rubles and not to provide additional reporting.

Another banking novelty: selling “old” dollars at a discount, and buying “new” ones. Many banks are trying to buy “blue” dollars (the latest type), since the main demand for cash currency comes from importers, and they need a new currency, he says Head of the Analytical Department of the BKF Maxim Osadchiy.

“White” dollars (older issues) are often purchased at a discount to “blue” ones. But banks are trying to sell “white” dollars to individuals. This is absolutely legal, but banks still prefer not to advertise this practice, since information about such discrimination can negatively affect the bank’s reputation,” he notes.

Meanwhile, by the end of this week, the dollar may fall in price to 90 rubles, the euro – to 97 rubles per unit, predicts Managing partner of B&C Agency Ivan Samoilenko. But with the beginning of November, a new period of weakening of the ruble will probably begin – the tax period factor will cease to operate. “Exporters will finish paying taxes by the end of this week. This means that from Monday the dollar may begin to rise in price and by the middle of next month it may return to around 100 rubles per unit, while the European currency will cost 108-110 rubles,” the expert believes.