Putin increased the maximum amount to exchange currency without a passport

The President of Russia Vladimir Putin introduced to simplify the currency exchange changes in the law “About counteraction to legalization (laundering) of incomes obtained in a criminal way and financing of terrorism”. The document published on the official portal of legal information.

New rules allow citizens to exchange foreign currency in the amount of 40 thousand rubles without a passport. Before that identification was not required in the exchange to 15 thousand rubles. Thus, the threshold was increased three times.

The law also increases from 40 thousand to 100 thousand rubles, the limit for simplified identification during currency exchange. In this case, it is sufficient to show only a passport. Additional information — INN, telephone number, place of work, etc. — specify do not have to.

The document was adopted by the state Duma on 15 June, the Federation Council approved it on June 29. The law comes into force from the date of its publication.

The authors of the bill said in an explanatory note that the new rules will reduce the operational burden on banks and their cost of processing transactions for currency exchange individuals.