Cyprus partly eases capital controls with new decree

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Cyprus has allowed bank transactions of up to 300,000 euros domestically and raised the threshold for company payments abroad, partly easing capital controls in place since March 28 to avert a bank run, the finance ministry said on Thursday.

Cyprus has increased the threshold for company payments outside the country to 20,000 euros from 5,000 euros without prior vetting and allowed travelers to take 2,000 euros abroad from 1,000 previously, the ministry said in a decree.

Other restrictions, such as a cash withdrawal limit of 300 euros per day, remained in place.

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