A number of credit card issuers have removed restrictions previously imposed overseas.
It is said that due to the significant improvement in the foreign currency position of the banks in recent times, it has been decided to give higher spending limits to their cardholders during foreign trips.
As the country’s foreign currency conditions tightened last year, credit card-issuing banks imposed daily limits on the use of cards for payments abroad to protect the limited amount of foreign currency in the country.
However, recent excess foreign currency liquidity conditions in the domestic banking sector have set the stage for removing such limits and for cardholders to increase their credit card limits.
