Dhaka: Bangladesh Bank (BB) today announced a significant change in the annual foreign exchange entitlement for Bangladeshi citizens traveling abroad, raising the limit from $12,000 to $18,000. This move aims to better accommodate genuine travel-related foreign exchange needs.
According to Bangladesh Sangbad Sangstha, the central bank conveyed this decision through FE/PD-1 Circular No. 33, issued by its Foreign Exchange Policy Department-1. The circular specifies that authorized dealers (ADs) can now release foreign exchange to adult Bangladeshi nationals residing in the country for overseas travel up to $18,000 or its equivalent per calendar year.
The circular stated, 'With a view to facilitating genuine travel-related foreign exchange requirements of Bangladeshi nationals and considering the evolving needs of international travel, Bangladesh Bank decided to enhance the annual travel entitlement.' Notably, the foreign exchange entitlement for minors below 12 years remains at 50 percent of the amount admissible for adults.
Furthermore, the central bank clarified that the release of foreign exchange in the form of US dollar notes will remain capped at $5,000 per person within the applicable annual entitlement. All other instructions relating to the release of foreign exchange for travel abroad will remain unchanged, ensuring consistency in the application of these regulations.
Bangladesh Bank has directed all authorized dealers to inform relevant clients about the contents of the circular, ensuring widespread awareness and compliance with the updated travel forex entitlement.