BUSINESS
03/27/2013 02:21 pm ET Updated May 27, 2013

Cyprus Withdrawals Limited To 300 Euros Per Day; No Checks Cashed

NICOSIA, March 27 (Reuters) - Cypriots will be unable to cash cheques or withdraw more than 300 euros per day under capital controls in place when the island's banks reopen on Thursday, a Central Bank official told the Cypriot state broadcaster.

Yiangos Demetriou, head of internal audit at the Central Bank, said the controls would allow unlimited use of credit cards within Cyprus, but set a limit of 5,000 euros ($6,400) per month abroad.

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