The Foreign Exchange Policy Department (FEPD) of the Bangladesh Bank has issued three new guidelines regarding foreign exchange for private travel rights through authorized money changers.

The notification, signed by FEPD Director Monoar Uddin Ahmed, was issued on Tuesday (November 19), outlining the updated regulations aimed at facilitating outbound travelers.

Under the Guidelines for Foreign Exchange Transactions (GFET)-2018, Volume 1, licensed money changers have been permitted to sell foreign currency notes, coins and traveler’s checks (TC) to Bangladeshi nationals traveling to the foreigner.

This is consistent with their annual private travel entitlement, subject to a maximum limit of $1,000 or its cash equivalent.

The limit has now been increased to $2,000 or its cash equivalent, doubling the previous allowance.

For Hajj pilgrims, licensed money changers must follow the government’s Hajj policy regarding the release of foreign currency.

The notification also states that all other related instructions will remain unchanged.

This decision should facilitate financial transactions for outgoing travelers and ensure better compliance with foreign exchange regulations.