Cuba bans company access to ATMs, limits cash transactions

FILE PHOTO: People use an automated teller machine (ATM) in downtown Havana, March 15, 2016. REUTERS/Alexandre Meneghini/File Photo

HAVANA (Reuters) - The Cuban Central Bank issued rules this week banning state and private businesses from using ATMs and limiting cash transactions between them, as it seeks to tame runaway inflation and off-the-books business amid a grave economic crisis.

The regulations went into effect on Thursday. They limit cash transactions to 5000 pesos and will be implemented gradually over six months, official media said.