Foreign exchange and monetary transactions in Russia

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Major foreign currencies are exchangeable at major banks and foreign exchange bureaus in Russia. You can also carry travelers cheques for large amounts of money though changing these can be time consuming and cost quite a bit in processing fees.

No foreign currency even American dollars are accepted as payment for any goods or service in the country. The Moscow International Airport has banks and foreign exchange bureaus that exchange most major currencies. A valid passport may be required for identification.

Foreign exchange transactions can be carried out at banks in most major towns and cities around the country. Bank normal operating hours differ from one bank to the other though general opening hours are; 10am to 6pm Monday to Saturday.

Credit Cards and ATMs:

The MasterCard, American Express and Visa Credit Cards are widely accepted in Russia and whenever possible can be used to pay for transactions. You may also be able to withdraw local currency from some ATMs.

You will mostly need to carry cash as Credit Card transactions are not widely used in the country. You may be able to use your Credit Card to pay for a hotel room or air ticket.

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  1. [...] Brad Setser wrote an interesting post today onHere’s a quick excerptMajor foreign currencies are exchangeable at major banks and foreign exchange bureaus in Russia. You can also carry travelers cheques for large amounts of money though changing these can be time consuming and cost quite a bit in … [...]

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