Foreign currency transactions through different cards sees over two times rise in February this year compared to the same period of the last year.
According to the Bangladesh Bankdata, foreign currency transactions equivalent to Tk 557.50 crore was conducted through cards in February this year, which wasTk 256.20 crore in the same month of the previous year.
However, the central bank’s information revealed on Sunday indicates that the foreign currency transactions using cards have slightly decreased in recent months.
The transaction in January this year was Tk 620.30 crore and Tk 639 crore in December last year.
The country’s people frequently visit foreign destinations for travel, medical, education and business purposes and banks are selling foreign currency to them both in cash and through cards.
At present many people do not want to carry cash in foreign countries and so, currency transactions through cards have increased, said sources of Bangladesh Bank.
The authorities allowed foreign currency transactions using credit cards in the country a long time ago. In June 2020, the central bank allowed banks to issue international debit cards against customers’ accounts.
Following Bangladesh Bank circular issued in late 2019, Bangladeshi citizens can carry US$ 12,000 a year for travel. For medical treatment, one can carry US$ 10,000 without permission and the same amount required for education below grade 12 in a foreign outside educational institution can be taken. The provision was implemented from January 2020.
