Bangladesh Bank (BB) has raised the annual foreign exchange travel quota for Bangladeshi nationals travelling abroad from the existing $12,000 to $18,000, aiming to facilitate genuine travel-related foreign exchange requirements.
The central bank issued a circular on Sunday revising the existing travel entitlement for adult Bangladeshi nationals residing in the country.
According to the circular, banks may release foreign exchange to an adult Bangladeshi national for overseas travel of up to $18,000, or its equivalent, during a calendar year, compared with the previous ceiling of $12,000.
Bangladesh Bank said the decision was taken to facilitate the genuine travel-related foreign exchange requirements of Bangladeshi nationals in view of the evolving needs of international travel.
The enhanced entitlement will apply during each calendar year. However, the entitlement for minors below the age of 12 will remain at 50% of the amount admissible for adults.
The central bank has also retained the existing restriction on the release of foreign exchange in the form of US dollar notes.
Cash dollar release will remain capped at $5,000 per person within the applicable annual travel entitlement.
The move is expected to provide greater flexibility to Bangladeshi travellers in meeting legitimate expenses related to overseas travel, including tourism, family visits and other permissible purposes.
The latest decision raises the annual ceiling by $6,000, or 50%, marking a significant relaxation of the foreign exchange facility for overseas travel.
