Foreign travel spending limit raised to $18,000

Bangladesh Bank has increased the annual quota for a citizen wishing to visit a foreign country and spend money on various needful occasions. The limit has expanded to---for an adult Bangladeshi citizen---a maximum of $18,000 or its equivalent in foreign currency.

Previously, this limit was 12,000 dollars.

Under the new rules, while the limit for adults is 18,000 dollars, the applicable limit for children under 12 years of age will be half of that, or 9,000 dollars. This new limit will apply per calendar year, from January 1 to December 31 of each year.

Today (Sunday), Bangladesh Bank issued a circular effecting this change to the existing travel facilities.

According to the directive, Authorized Dealer (AD) banks can now release up to 18,000 dollars or its equivalent in foreign currency to an adult Bangladeshi citizen for foreign travel in a calendar year. The decision to raise the travel quota limit was taken to meet the actual foreign currency needs of Bangladeshi travelers and in consideration of the changing requirements of international travel.

The circular also states that the entire travel quota amount will not be allowed to be taken in cash US dollars. The previous rules regarding the withdrawal of cash dollar notes remain unchanged. According to the existing rules, an individual can carry a maximum of 5,000 US dollars in cash notes from their annual travel quota. The remaining foreign currency may be used through other permitted means.

The increase in the travel quota limit has created greater opportunities for Bangladeshi citizens to use foreign currency for tourism abroad, visiting relatives, or other permitted travel purposes.