It states that excess holding of foreign currency is a punishable offense under the Foreign Exchange Regulation Act, 1947.
Recently, in the context of the high price of the dollar due to the supply crisis, Bangladesh Bank announced the steps to bring the main foreign currency stockpiled to the market.
It is alleged that many individuals have bought and stored dollars taking advantage of the dollar crisis. Due to this, the buying and selling of dollars in the open market has decreased and there has been a huge crisis.
Meanwhile, Bangladesh Bank sold five million dollars to various banks at the rate of Tk 95 to meet the demand on Wednesday.
And the dollar was sold in the open market at a maximum of 109 taka 75 paisa, said the general secretary of the Money Changer Association of Bangladesh. Helal Shikder.
According to Bangladesh Bank’s press release, “Resident Bangladeshis can deposit not more than 10,000 US dollars or equivalent foreign currency brought with them from abroad as resident foreign currency deposit with themselves or in an authorized dealer bank, and can also take the foreign currency with them on their next trip abroad. .
“It is mandatory for resident Bangladeshi citizens to sell the excess amount of USD 10,000 to an authorized dealer bank/licensed money changer or deposit it as resident foreign currency deposit within one month of arrival in the country.”
Recalling these points of law, the central bank has directed anyone to sell excess foreign currency to banks or licensed money changers by September 30.
Although a circular of the Bangladesh Bank regarding the conservation of foreign exchange states, a person can keep an annual limit of 12 thousand dollars with passport endorsement for the purpose of traveling abroad.