Bangladesh Bank (BB) will gradually circulate 395 crore new notes of different denominations with the portrait of Bangabandhu Sheikh Mujibur Rahman.

It will also issue 60 crore such new coins of Tk 5 denomination.

The central bank will release eight crore banknotes, of the 395 crore new notes, before Eid-ul-Fitr. The notes in the denominations of Tk 2, Tk 5, Tk 10, Tk 20, Tk 50, Tk 100, Tk 500 and Tk 1,000 will be available at all offices of the central bank.

"We plan to release 230 crore new notes in the first phase and 165 crore in the second phase," said Mohammad Masum Kamal Bhuiyan, general manager of BB's currency management and payment system department.

Prime Minister Sheikh Hasina launched the new banknotes on Thursday.

BB will release 70 crore notes of Tk 2, 30 crore notes of Tk 5, 50 crore of Tk 10, 35 crore of Tk 20 and 15 crore of Tk 50 notes.

There will also 75 crore notes of Tk 100, 70 crore notes of Tk 500, and 50 crore banknotes of Tk 1,000.

The notes are being printed with ink and other materials imported from Germany. A Finland-based company has got the contract to supply the Tk 5 coins. Each of the coins will cost Tk 1.74.

Along with the new banknotes, all existing paper notes in the same denominations will also remain in circulation.

News: The Daily Star/ Bangladesh/ Aug-15-2011