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Bangladesh Increases Annual Travel Forex Limit to $18,000

Bangladesh Bank has increased the annual foreign exchange entitlement for Bangladeshi citizens travelling abroad to $18,000 from $12,000.

By Staff Correspondent
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Bangladesh raises annual travel forex entitlement to $18,000 | At a Glance
BSS

Bangladesh Bank (BB) has increased the annual foreign exchange entitlement for Bangladeshi citizens travelling abroad to $18,000 from $12,000. The decision aims to facilitate genuine travel-related foreign exchange requirements. The central bank announced this through FE/PD-1 Circular No. 33, issued by its Foreign Exchange Policy Department-1. Authorised dealers (ADs) may now release foreign exchange to an adult Bangladeshi national residing in Bangladesh for overseas travel during a calendar year up to $18,000 or its equivalent.

Revised Entitlement Details

According to the circular, authorised dealers can now release foreign exchange to adult Bangladeshi nationals for overseas travel up to $18,000 per year. The foreign exchange entitlement for minors below 12 years of age will remain at 50 percent of the amount admissible for adults, which is $9,000. The release of foreign exchange in the form of US dollar notes will remain capped at $5,000 per person within the applicable annual entitlement.

Rationale Behind the Increase

The circular stated that the increase is intended to facilitate the genuine travel-related foreign exchange requirements of Bangladeshi nationals and to consider the evolving needs of international travel. The central bank emphasised that all other instructions relating to the release of foreign exchange for travel abroad will remain unchanged.

Implementation and Communication

Bangladesh Bank has asked all authorised dealers to bring the contents of the circular to the notice of relevant clients. This ensures that banks and financial institutions are aware of the new limits and can inform their customers accordingly.

Why This Matters for Bangladesh

The increase in the annual travel forex entitlement is significant for Bangladeshi citizens who frequently travel abroad for business, education, or leisure. It provides them with greater financial flexibility and reduces the need for multiple transactions. This move is expected to encourage more outbound travel and support the tourism and travel industries.

Source: BSS

FAQ

What is the new annual travel forex limit for adults?
The new annual travel forex limit for adults is $18,000.
How much forex can minors below 12 years get?
Minors below 12 years can get 50% of the adult limit, which is $9,000.

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