Both Taka and Dollar transactions through cards dropped by almost Tk300 crore in February compared with the previous month of January.
On February 23, the overall card-based transaction was Tk39464.3 crore, which was Tk39757.7 crore on January 23. The exact amount of transactions declined by Tk293.4 crore.
Bangladesh Bank's latest data showed that the total amount of card-based local currency transactions declined by Tk230.7 crore or 0.6% to Tk38,906.7 crore in February compared to Tk39,137.4 crore in January.
On the other hand, the amount of card-based foreign currency transactions dropped by Tk62.8 crore 10.12% to Tk557.5 crore in February compared with that of Tk620.3 crore in January 2023 and Tk639.6 crore in December 2022.
When asked the reason behind such decline, bankers said that keeping in mind the increased expenses during Ramadan and Eid, many people reduced their expenses in the previous months. This could be a major reason behind the decline in local currency transactions in February.
But when it comes to the statistics for March and April, it can be seen that it has reached the highest peak, the bankers added.
Regarding forex transactions by cards, the bankers said that it depended on the availability of dollars and the number of travellers going abroad.
People used foreign currency from their debit and credit cards mostly during their travels abroad.
Travellers mainly use the foreign currency available on their cards to pay for expenses such as airfare, travel costs, hotel bookings and shopping expenses, they said.
They said that some banks limited travellers from using cards in foreign countries due to the ongoing dollar crisis on the market, which could result in a decline in the transaction.
However, foreign currency transactions using cards have experienced significant growth in the current financial year, as it has become much easier for travellers to obtain foreign currency through cards from banks, the bankers said.
As per Bangladesh Bank rules, each cardholder can spend up to $12,000 a year as their personal entitlement.
