Bangladesh Bank in a press release has ordered to sell the extra US dollars in possession of the people by 30 September to overcome the current crisis of US dollars in the bank.
After 30 September, if someone is found in possession of more US dollars than the permissible limit, legal action will be taken against them, Bangladesh Bank said.
As per the current law, a Bangladeshi can bring $10 thousand or the equivalent in other currencies with them when returning from abroad. They can keep the money in cash or save it in the bank. For any amount excess of that, they have to sell it to a money changer or to a bank within one month.
Now the central bank has sent a reminder to everyone to sell the extra US dollars before 30 September.
The Bangladesh Bank said in the statement that possessing more than the legal amount of US dollars is a punishable offence under the foreign exchange regulation act, 1947.
The statement read that if anyone fails to sell the extra US dollars before the deadline, the bank will take strict legal actions against them.
The US dollar exchange rate in kerb markets had peaked to Tk 120 recently. Currently, the price of one US dollar is Tk 105-110 in the kerb markets.