This is exactly the same playbook that the ministry of finance followed when Nazi Germany went the autocratic route. They also confiscated personal stores of foreign currency, and eventually pulled the sort of financial wizardry that I'm unqualified to explain.

Adam Tooze's Wages of Destruction is an incredible book if you're into economics.

If I learned one thing from this book, it's that central banks have a lot of tricks up their sleeves if the situation demands it.