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Cyprus: Cash withdrawals capped at 300 euros

8:33 PM, Mar. 27, 2013  |  Comments
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NICOSIA, Cyprus - Cyrpiots will be allowed to withdraw only 300 euros ($383) in cash each day when the country's banks open for the first time in more than a week today, the state news agency said.

Credit or debit card payments abroad will be capped at 5,000 euros a day, while no checks will be cashed, although they can be deposited in bank accounts, the agency said Wednesday.

Meanwhile, armed police officers guarded several trucks carrying containers arriving at the country's Central Bank in Nicosia. A helicopter hovered overhead.

Banks have been shut across the country since March 16 to prevent a run on deposits while politicians worked out a new plan to secure an international bailout.

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