Bangladesh Bank has raised the annual foreign-currency allowance for Bangladeshi citizens traveling abroad from $12,000 to $18,000. Under the new rule, a Bangladeshi citizen can now spend up to $18,000, or the equivalent in foreign currency, on foreign travel in a year.
Bangladesh Bank issued a circular on the matter Sunday.
Bangladesh Bank said the travel quota limit was raised in consideration of Bangladeshi citizens’ genuine foreign-currency needs for travel and the changing requirements of international travel.
Under the directive, minors under 12 years old will continue to be allowed 50% of the amount approved for adults, as before.
Meanwhile, there is no change to the existing limit on carrying cash U.S. dollar notes. Under the travel quota, an individual can carry a maximum of $5,000 in cash.
Bangladesh Bank’s new decision creates additional scope for Bangladeshi citizens to use foreign currency for tourism, visiting relatives and other approved foreign travel purposes.