Markets

Cyprus bourse to remain shut amid currency controls

Stock exchange extends almost two-week shutdown as banks prepare to reopen

Students take part in an anti-Troika protest outside the Presidential palace in Nicosia. Cyprus's Stock Exchange extended an almost two-week shutdown after the island placed controls on currency transactions to prevent a run on deposits when banks reopen. Photograph: Yannis Behrakis/Reuters

Thu Mar 28 2013 - 08:02

Cyprus's Stock Exchange extended an almost two-week shutdown after the island placed controls on currency transactions to prevent a run on deposits when banks reopen today.

The exchange will remain shut during Easter, from March 29th to April 1st, because the Target2 system of interbank payments throughout the European Union would not be working, it said. The last trading session of the Cypriot bourse was on March 15th.

Reuters

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