Opportunity to Purchase Up to $ 3,000 at Once from Money Changers

Bangladesh Bank has increased the foreign currency purchase limit for outbound Bangladeshi citizens. From now on, a maximum of 3,000 US dollars equivalent in foreign currency notes and coins can be purchased at a time against the personal travel quota from licensed money changers. Previously, this limit was 2,000 US dollars. The central bank issued a circular in this regard on Thursday, October 8, through its Foreign Exchange Policy Department-2 (FEPD-2). The directive has been issued to all licensed money changers and authorized dealers in foreign currency across the country.

According to the circular, under FE Circular No. 31 issued on November 19, 2024, licensed money changers were allowed to sell foreign currency notes and coins up to a maximum of 2,000 US dollars against the annual personal travel quota of outbound Bangladeshi citizens. However, the central bank has decided to increase this limit to meet the foreign currency requirements of outbound Bangladeshi citizens. Under the new decision, from the applicable annual personal travel quota, a licensed money changer can now sell up to a maximum of 3,000 US dollars in notes and coins at a time.

However, if an individual’s applicable annual travel quota exceeds 3,000 dollars, it does not mean the entire amount can be taken in US dollars. The remaining travel quota amount beyond 3,000 dollars can be sold in the form of notes and coins of other freely convertible or usable currencies. In this case, the concerned customer must have remaining travel quota availability. In other words, the new decision primarily increases the limit for purchasing US dollars at a time from 2,000 to 3,000 dollars. Other applicable provisions of the personal travel quota will remain unchanged.

Bangladesh Bank has clarified in the circular that other applicable provisions for licensed money changers in this regard will remain unchanged. Consequently, while only the single-transaction US dollar selling limit has been increased, other rules and conditions regarding the travel quota will remain effective as before. The central bank has instructed all licensed money changers in the country to inform their respective customers of the contents of the circular.