Press Xpress
  • Home
  • Magazine
  • Geopolitics
  • Politics
  • Election
    • US Election
    • UK Election
    • India Election
  • Diplomacy
  • International
  • STEM
  • More
    • Art & Culture
    • Business
    • CrossBorder
    • Diary
    • Economy
    • Bangladesh
      • Agriculture
    • Interview
    • Security
    • Sports and Entertainment
Press Xpress
  • Home
  • Magazine
  • Geopolitics
  • Politics
  • Election
    • US Election
    • UK Election
    • India Election
  • Diplomacy
  • International
  • STEM
  • More
    • Art & Culture
    • Business
    • CrossBorder
    • Diary
    • Economy
    • Bangladesh
      • Agriculture
    • Interview
    • Security
    • Sports and Entertainment
LOGIN
Sunday, July 27, 2025
Top Posts
Canada Includes Duty-Free access for Bangladesh till 2034
Is the United States Changing its Tune on Bangladesh?
FAIR POLLS, ELECTION COMMISSION’S OPTIMUM ROLE AND EVM USE
NIGHTMARE RETURNS
No to BNP’s Violence: US Press Sec. Vedant Patel
GLOBAL FOOD SECURITY UPDATE: WHERE DOES BANGLADESH STAND?
Boycotting EC’s Dialogue, BNP Proves Incompetence Again
IMPACT OF EXTERNAL DEBT ON BANGLADESH ECONOMY
AWAMI LEAGUE GENERAL SECRETARY: WHO’S NEXT?
ASHRAYAN PROJECT: A ‘SHEIKH HASINA MODEL’ FOR INCLUSIVE DEVELOPMENT
ROLE OF NGOs: CHARITY OR BUSINESS?
SUBSCRIBE NOW
Press Xpress
Press Xpress
  • Home
  • Magazine
  • Geopolitics
  • Politics
  • Election
    • US Election
    • UK Election
    • India Election
  • Diplomacy
  • International
  • STEM
  • More
    • Art & Culture
    • Business
    • CrossBorder
    • Diary
    • Economy
    • Bangladesh
      • Agriculture
    • Interview
    • Security
    • Sports and Entertainment
SUBSCRIBE NOW LOGIN

© 2022 PressXpress All Right Reserved.
EconomyInFocus

Liquidity crisis: BB orders selling excess dollars by Sept 30

by Press Xpress September 1, 2022
written by Press Xpress September 1, 2022
Share 1FacebookTwitterPinterestThreadsBlueskyEmail
898

Bangladesh Bank (BB), in its desperate bid to address the prevailing liquidity crisis of US dollars, has ordered to sell the excess sum of American greenback available in people’s hands.

The BB published a circular to this effect on August 31. As per the new circular, no one is allowed to keep foreign currency worth over 10,000 US dollars for more than a month.

Citizens have also been given time till September 30 to sell any such foreign currency. Bangladesh’s central bank has issued this notification at a time when the dollar crisis has turned acute in the country.

YOU CAN ALSO READ: PRIME MINISTER PLACES FOUR PROPOSALS TO ADDRESS GLOBAL CRISIS

Current law stipulates that any Bangladeshi may bring USD 10,000 or any other equal amount of money into the country while returning from abroad. They have two options for saving these dollars: as cash or as bank deposits in foreign currency.
If individuals have more dollars with them, they have to sell those extra amount to a licensed currency exchange or bank within one month of returning home.

Foreign Exchange Regulation Act of 1947 says it is illegal to possess foreign cash outside of the above authorities. If individuals have more dollars with them, they have to sell those extra amount to a licensed currency exchange or bank within one month of returning home.

According to the law, those who have never left the country are not allowed to possess dollars under any circumstance. A person can travel internationally as long as they have the adequate funding and documents in hand.
However, the latest BB circular states that if there is excess foreign currency in one’s possession, it must be sold to a bank or a licensed money changer by September 30. Anyone found in possession of more liquid dollar in hand after the stipulated time will face severe legal consequences.

Earlier, a number of steps were taken by Bangladesh Bank to stabilize the open market. In recent weeks, travelers had to buy each dollar for as high as Tk 120 from the open market.

In addition to the banks, the dollar-crisis is also going on in the open market. As a result, the price per dollar rose to a maximum of TK 120 in the open market, which is now TK 105-110.

During the first three weeks of August, the taka’s exchange rate to the dollar was almost consistent at approximately TK 108 per dollar. But as the travelers yesterday exchanged each dollar for TK 112, the rate started rising once more, which prompted Bangladesh Bank to take the new step in an effort to stabilize the market and rein in dollar rate from going out of reach.

Print Friendly, PDF & Email
Bangladesh BankBBCRISISLIQUIDITY CRISIS
Avatar photo
Press Xpress

Expressing news & enlightening thoughts through neutral, clear and concise narration and beyond. All in a single platform.

previous post
ASHRAYAN PROJECT: A ‘SHEIKH HASINA MODEL’ FOR INCLUSIVE DEVELOPMENT
next post
POLICY CAFÉ ON “WOMEN’S SAFETY IN PUBLIC PLACES”

You may also like

Bangladesh’s Investment Illusion: The $700M Gamble That MayBackfire

May 31, 2025

Navigating Turbulence are the New Face of Global...

May 16, 2025

UK Eyes Control of €200B in Frozen Russian...

May 15, 2025

Ways of US Economy Shrinks Amid Trade War...

May 1, 2025

Cambodia Confronts Trade Dilemma Amid Rising US-China Rivalry

April 26, 2025

How Can Europe Afford Its Defense? Rethinking Climate...

March 22, 2025

Recent Posts

  • NCP’s ‘March to Gopalganj’: State’s  80 Crore Taka Questioned

    July 26, 2025
  • Bangladesh Security Forces Accused of Brutality Amid Student Protests Over Crash Casualties

    July 22, 2025
  • From the Sky Came Fire: Bangladesh Military’s Shameful Role in Milestone School Tragedy

    July 22, 2025
  • Air Force Training Aircraft Jet Crashes into Milestone College Campus in Dhaka, Many Feared Dead

    July 21, 2025
  • GOPALGANJ MASSACRE: A Nation Bleeds While a Regime Consolidates Power

    July 19, 2025

Newsletter

Subscribe PressXpress Newsletter for new posts, tips & new photos. Let's stay updated!

Contact

  • Business Centre, Sharjah Publishing City Free Zone, Sharjah, United Arab Emirates
  • Email: info@pressxpress.org
    px.pressxpress@gmail.com
  • Support: contact@pressxpress.org

Press Xpress

  • About Us
  • Contact
  • Advertise With Us

Privacy

  • Privacy Policy
  • Terms of Use
  • Register New Account
© 2024 Press Xpress All Right Reserved.
Facebook Twitter Instagram Linkedin Youtube
Press Xpress
  • Home