BB hikes forex travel quota for individuals

Posted by BankInfo on Mon, Apr 07 2014 03:13 pm

The central bank has enhanced the foreign exchange quota limit for global private travellers, according to a notice.
The ceiling has been increased to $12,000 a year for an adult from $5,000 previously, according to the circular issued by Bangladesh Bank's foreign exchange policy department yesterday. The move comes after the quota was increased for business travellers last month.
The annual travel quota for Saarc member countries and Myanmar has been set at $5,000 a year, from $2,000 previously.
For minors, the applicable quota will be half the amount admissible for adults.

However, foreign exchange in the form of cash must not exceed $3,000 per person per trip, the notice said.
On March 10, the central bank allowed exporters, importers, and producers for local markets an entitlement of $ 400 a day, $ 4,000 a trip, and $ 10,000 a year in forex travel quota.
Exporters have also been entitled to use the balance in their foreign currency retention quota account for their business visits abroad.

News:The Daily Star/7-Apr-2014
Posted in News, Banking

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