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

Cyprus Withdrawals Limited To 300 Euros Per Day
People use ATMs outside a closed branch of the Bank of Cyprus in capital Nicosia, Cyprus, Wednesday, March 27, 2013. Cypriot authorities are preparing limits on how much money depositors can take out of their accounts a day before banks are set to reopen. (AP Photo/Petros Giannakouris)
People use ATMs outside a closed branch of the Bank of Cyprus in capital Nicosia, Cyprus, Wednesday, March 27, 2013. Cypriot authorities are preparing limits on how much money depositors can take out of their accounts a day before banks are set to reopen. (AP Photo/Petros Giannakouris)

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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