Cyprus Banks to Open Midday Tomorrow With Capital Restrictions
This article is for subscribers only.
Cyprus’s banks will open for six hours tomorrow with capital restrictions in place after staying shut for almost two weeks as the island nation faced financial collapse.
Capital controls include a 300-euro ($383) daily limit on withdrawals and will restrict transfers to accounts outside Cyprus, according to a decree from the Central Bank of Cyprus. The decree will remain valid for four days, according to an e-mailed statement from the bank today.