Cyprus partially relaxed currency controls imposed to prevent a run on its banks, issuing a decree on Friday permitting companies to make cash transfers between banks.
Companies could transfer up to 10,000 euros ($13,000) per month from one bank account to another, and the limit for individuals was 2,000 euros, the finance ministry said in a statement. Other restrictions, including a 300 euro per day cash withdrawal limit from banks, and a vetting process for payments of more than 25,000 euros per day remained in place.
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Cyprus introduced currency controls in late March after heavy losses were slapped on uninsured bank depositors in its two largest banks in return for a 10 billion euro bailout from the International Monetary Fund and the European Union. ($1 = 0.7679 euros)
(Reporting By Michele Kambas; editing by Ron Askew)