NICOSIA, April 5 Cyprus partially relaxed
currency controls imposed to prevent a run on its banks, issuing
a decree on Friday permitting companies to make cash transfers
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.
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.