Bangladesh Bank raises maximum limit of US dollar for travellers

Bangladesh Bank raises maximum limit of US dollar for travellers

FE Report | Published: July 26, 2019 

The central bank has increased the maximum limit of cash US dollar for travellers’ to $12,000 from the existing level of $5,000 and $7,000 for a calendar year.

The revised limit of foreign exchange for private travel abroad will come into effect from January 2020, according to a notification, issued by the Bangladesh Bank (BB) on Thursday.

Currently, the banks are allowed to release foreign exchange to an adult Bangladeshi national residing in Bangladesh during a calendar year upto $5,000 or equivalent for travel to South Asian Association for Regional Cooperation (SAARC) member countries and Myanmar, and $7,000 or equivalent for travel to other counties.

“….Global limit of travel entitlement for an adult passenger shall stand at $12,000 during a calendar year without limiting to regions or countries of travel,” the central bank said in the notification.

For minors (below 12 years in age) the applicable quota, as before, will be half the amount admissible for adults, according to the notification.

As usual, release of foreign exchange in the form of US$ notes shall not exceed $5,000 per person within the entitlement, it noted.

“We’ve enhanced the foreign exchange quota for private travellers’ considering travel expenses across the world,” a BB senior told the FE while explaining main objective of the notification.

Others formalities including submission of the passport and air ticket will remain unchanged for issuing such foreign currency, he added.