Bangladesh Bank has relaxed its rules enhancing the private travel quota in foreign exchange for travelling abroad.
Under the new provisions, resident Bangladesh nationals will be able to spend $12,000 instead of the existing $7,000 per year for traveling to foreign countries, according to a circular issued by the central bank on Sunday.
The central bank also asked all commercial banks to follow the latest instructions on releasing annual travel quota in foreign exchange to resident Bangladesh nationals.
“Travellers of the SAARC member countries would be able to spend $5,000 or equivalent and up to $7,000 or equivalent for travelling to Myanmar,” the circular said.
For those below 12 years of age, the applicable quota would be half the amount admissible for adults.
However, foreign exchange in the form of cash must not exceed $3000 per person, per trip.
Bangladesh Bank took the decision due to the increase of travelling costs to countries abroad, said Bangladesh Bank Deputy General Manager Jagannath Chandra Ghosh.
