NSD introduces currency conversion service

Source: National Settlement Depository (NSD)

National Settlement Depository (NSD), Russia's central securities depository, has introduced a new conversion service - a conversion payment.

This service integrates two operations (purchase and sale of foreign currency and cash transfer) and allows NSD clients to reduce the number of submitted instructions and payment documents.

Now the clients with bank accounts opened with NSD can conduct payments in foreign currency other than the currency of the account. The new service simplifies a procedure of payment made by a client who does not have an account in the currency of payment, or a client who does not have enough funds in the currency of payment, or a client who works with several currencies. The conversion payment service also allows clients to receive funds denominated in currency other than the currency of their accounts opened with NSD.

The conversion payment service can be used for external payments and receipt of funds (in particular, within the framework of the corporate actions) and for operations in the NSD payment system. The respective instructions may be submitted by a client in the electronic form.

Currency pairs used for these operations:

Currency of sale

Currency of purchase

Russian ruble

US dollar

Russian ruble

Euro

US dollar

Russian ruble

US dollar

Euro

Euro

Russian ruble

Euro

US dollar

 The temporary provisions of these operations are available at the company’s website (in Russian).

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