An order to sell excess dollars on hand by September 30
To meet the cash dollar crisis, Bangladesh Bank has ordered to sell the excess dollars in people’s hands. For this, the time has been fixed till September 30. Bangladesh Bank said in a notification that legal action will be taken if anyone gets extra dollars. Bangladesh Bank has issued this notification at a time when the dollar-crisis is going on in the country.
According to the current law, a Bangladeshi can bring 10,000 dollars or any equivalent currency when returning from abroad. They can save these dollars as cash, and can also keep them as foreign currency bank deposits. If you have more dollars with you, it is mandatory to sell it to a money changer or bank within one month of returning home. And those who have never traveled abroad have no legal right to hold dollars. One can keep the necessary dollars along with valid documents to go abroad.
Now the central bank has reminded people to sell the excess dollars they are holding by September 30.
According to the notification of the central bank, a Bangladeshi person can deposit a maximum of 10,000 dollars of foreign currency brought with him from abroad with himself or as an authorized bank. You can also take these coins with you on your next foreign trip. It is mandatory for Bangladeshi citizens to sell or deposit excess foreign currency of 10,000 dollars in a bank or any licensed money changer within one month of arrival in the country. Holding excess dollars is a punishable offense under the Foreign Exchange Regulation Act, 1947.
According to the notification, if there is such foreign currency, it is being requested to sell it to the bank or to the licensed money changer within the next 30 September. Strict legal action will be taken against anyone found with extra dollars after the specified time.
In addition to the banks, the dollar-crisis is also going on in the open market. As a result, the price per dollar rose to a maximum of Tk 120 in the open market, which is now Tk 105-110.