Bangladesh raises annual forex travel allowance to $18,000

The central bank of Bangladesh has raised the annual foreign currency allowance for Bangladeshi citizens travelling abroad to $18,000, up from the previous limit of $12,000.

Under the revised rules, an adult Bangladeshi citizen can now take up to $18,000 or its equivalent in other foreign currencies abroad in a calendar year.

The Foreign Exchange Policy Department-1 (FEPD-1) of the Bangladesh Bank issued a circular to authorised dealer (AD) banks on Sunday, making the revised limit effective immediately.

The circular, signed by Bangladesh Bank Director (current charge) Md Abu Bakkar Siddique, said the decision was taken considering the genuine travel needs of Bangladeshi citizens and the growing need for international connectivity.

Children’s allowance at $9,000

For children below the age of 12, the foreign currency endorsement limit will remain at 50% of the adult allowance. This means a child under 12 can take up to $9,000 or its equivalent in foreign currency abroad in a calendar year.

Cash limit at $5,000

However, travellers cannot take the entire annual allowance in cash. An individual can carry a maximum of $5,000 in cash or notes. The remaining amount can be taken through other authorised means, such as cards or travellers’ cheques.

Bangladesh Bank said all other existing instructions regarding foreign currency endorsement would remain unchanged.
The revised instruction has come into effect immediately, and authorised dealer banks have been instructed to inform their customers and other relevant parties about the changes.