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Bangladesh Raises Foreign Currency Travel Limit to $18,000
Bangladesh Bank has raised the annual foreign currency allowance for Bangladeshi citizens travelling abroad from $12,000 to $18,000.
The central bank issued a circular on Sunday revising the existing travel entitlement, saying the move aims to better meet genuine foreign currency needs related to international travel.
Under the revised rules, authorised dealer (AD) banks may release up to $18,000 or its equivalent in foreign currency to an adult Bangladeshi citizen for overseas travel in a calendar year. The previous annual limit was $12,000.
Bangladesh Bank said the decision was taken in view of the actual foreign currency requirements of Bangladeshi travellers and changing needs related to international travel.
The revised limit will apply for each calendar year. However, the existing provision for travellers under the age of 12 remains unchanged, allowing them to use foreign currency equivalent to 50% of the adult entitlement.
The central bank has also kept unchanged the existing limit on foreign currency issued in US dollar notes. Within the applicable annual travel quota, each traveller may take up to $5,000 in cash US dollar notes.
The higher travel allowance is expected to provide greater flexibility for Bangladeshi citizens travelling abroad for tourism, visiting relatives and other permitted purposes.
The increase represents a 50% rise, or $6,000, in the annual foreign currency travel entitlement for adult Bangladeshi citizens and marks a significant relaxation of the country's foreign exchange rules for overseas travel.