NICOSIA – Cyprus on Sunday partly eased capital controls in place since March 28 to avert a bank run, the Finance Ministry said in its latest decree.
Cyprus raised the amount of money individuals can transfer between banks domestically to 3,000 euros ($3,900) from 2,000 euros a month. Companies may now transfer 50,000 euros from 10,000 euros. Other restrictions, such a 300 euro per day cash withdrawal limit, remained in place.
The ministry clarified that bank transactions of up to 300,000 euros domestically, which it allowed in a decree published on Friday, were not allowed from one bank to another to an account belonging to the same individual.
(Reporting by Karolina Tagaris; Editing by Alison Williams)