Now a passenger can bring in $10,000

The central bank yesterday doubled the limit of foreign currency an incoming passenger can bring in to the country.

According to a Bangladesh Bank circular, a passenger can now bring in $10,000 or its equivalent, up from $5,000 or its equivalent earlier, without declaration to customs.

Bankers hailed the move and said it would help the country get foreign currency and reduce hassles for incoming passengers.

"Incoming passengers, mostly Bangladeshis, face hassles at airports if the foreign currency they are bringing in exceeds the limit," said a senior treasury official at a private bank.

He said bankers also ask questions when these passengers go to them for exchanging the currency.

Anis A Khan, former managing director of Mutual Trust Bank, welcomed the move, saying the increase in the limit goes in line with the country's economic growth.

"Illegal inflow will also go down now," he added.

Last year the central bank lifted the regional bar on carrying cash for outbound passengers, allowing them to carry $12,000 outside the country in a calendar year.  

Previously, a passenger could take the amount with them outside the country - $5,000 for the Saarc countries and $7,000 for other countries.

The revised limit of foreign exchange for private travel abroad has come into effect from January 2020. 

Now banks are selling dollar for Tk88 to Tk89. The rate was Tk87 one year ago.