The government has decided to withdraw all Tk1 and Tk2 notes and coins from the market in order to smoothen financial transactions.
Talking to reporters at the Secretariat yesterday, Finance Minister AMA Muhith said: “Once these notes and coins reach the banks, they will never be circulated again.”
Among the existing bills, only Tk1 and Tk2 notes and coins are printed and made by the government. Everything above – from Tk5 to Tk1,000 bills – are all bank notes.
The government has also decided that from now on it is going to print Tk5 notes as its least denominate.
Muhith said they will be needing around Tk300 crore to gradually destroy all the existing Tk1 and Tk2 notes and coins.
However, sources from the Bangladesh Bank said although the thing about Tk5 notes was true, they have not made any decision about withdrawing Tk1 and Tk2 notes and coins from the market.
When asked why they have made the decision, the minister said: “People will be more benefitted than the government. Now they are having to carry useless money in their wallets.”
When asked what would happen to products such as candies that are priced Tk1 or Tk2, the minister replied: “Can you really find any candy
for Tk1-2?”
A decision however is yet to be made on whether Tk5 will be made available as printed paper notes or metallic coins or both.
