According to information obtained it was revealed that local banks have decided to impose a cap on personal foreign currency transactions due to the lack of foreign currency reserves within the country. The cut off value has been decided by the banks individually with some banks only allowing transactions within USD 100 per month, while others have imposed a cap of USD 200. But according to the banks, payments to foreign universities for education purposes will be possible through credit/debit cards. This will require the customer to visit the relevant bank branch with the required supporting documents following which the cap will be lifted temporarily to allow the payment to go through.