BBN file photo
Dhaka, Bangladesh (BBN)- The central bank of Bangladesh has doubled the limit of cash foreign exchange a passenger can carry, inbound or outbound, in relaxation of its regulations, officials said.
Under the revised regulations, incoming passengers are allowed to bring in US$10,000 or its equivalent amount in cash from now on instead of $5,000 earlier without declaration to the customs authorities, according to a notification issued by the Bangladesh Bank (BB) on Monday.
It also said foreign currency so brought in is permissible to be taken out while, proceeding abroad by the concerned person.
Actually, an incoming person can retain foreign exchange upto $10,000 or an equivalent amount brought in by himself/herself without declaration and take out the same at the time of departure from Bangladesh without endorsement in passport.
Under the existing Guidelines for Foreign Exchange Transactions-2018 (GFET), such an amount may also be deposited in the Resident Foreign Currency Deposit (RFCD) account by a resident Bangladeshi national and in a Non-Resident Foreign Currency Deposit (NFCD) account/Private FC Account by a non-resident Bangladeshi any time after arrival in Bangladesh.
“We’ve enhanced the cash foreign exchange limit for incoming and outgoing passengers as part of updating its forex regulations as in the neighbouring countries,” a BB senior official told the BBN in Dhaka.
India had allowed $10, 000 as the cash forex limit for the passengers ling before, he added.
“Such relaxation may help increase the inflow of cash greenback in the country’s forex market,” the central banker explained.
The central bank has already increased foreign currency quota for travellers to $12,000 from $5,000 and $7,000 earlier in a calendar year considering travel expenses across the world.
BBN/SSR/AD