Exchange wanted from the Russians

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Photo: Irina Bujor / “Kommersant”

The profile state Duma Committee on financial market supported the proposal to ban post information on exchange rates on placards on the streets, reports TASS.

If the proposal is adopted, the streets will be gone, the currency Board, banks and financial institutions will be able to place them exclusively indoors. The first reading of the bill is scheduled for 4 December.

Deputy Director of Department of financial monitoring and currency control of Bank of Russia Ilya Yasinsky says that the initiative is associated with a large number of illegal points of currency exchange, which are registered in the unidentified individuals.

“In these exchange provisions as a rule, operations are carried out at rates different from those conducted through authorized banks. Accordingly, unfair competition. And these transactions illegal a priori, as are the subjects to which this right is not given by the law”, — said the representative of the Central Bank.

According to Gaydar, people who have used these exchangers are often deceiving, luring preferential rates, but in the end the money they receive. “Why still are not able to deal with this problem? These points of currency exchange are actively using outdoor advertising, attracting consumers from the street — the huge scoreboard with bright numbers that are visible from everywhere,” he said.

The Bank of Russia is lobbying for this initiative since February of 2018, when the Central Bank first published the corresponding draft resolution.

Video, photo All from Russia.

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