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Dhaka, June 4, 2025 – In preparation for Eid, Bangladesh Bank has introduced new designs and series of 20, 50, and 1,000 taka banknotes. However, these notes are not readily available at scheduled banks, leading people to purchase them at nearly double the price in the open market, as reported by UNB.
Street vendors have set up stalls outside Bangladesh Bank in Motijheel, Dhaka, selling these new notes at significantly inflated prices. A 20-taka note is being sold for 50 taka, a 50-taka note for 80 taka, and a 1,000-taka note requires an additional 50–60 taka. For bundles, the 20-taka notes are in high demand, with buyers paying an extra 1,200 to 1,500 taka per bundle, while 50-taka bundles cost an additional 1,000 to 1,200 taka.
Bangladesh Bank began releasing these notes in limited quantities on June 2, initially supplying banks in Dhaka, with plans to extend distribution to district towns after the Eid holidays. However, the scarcity of new notes in banks has sparked frustration among customers, who are forced to buy them at exorbitant rates in the open market for Eid salami (traditional cash gifts).
In Motijheel and Gulistan, vendors are openly selling these new notes, capitalizing on their high demand following recent political changes in the country. Customers like Monirul Islam expressed their anger, questioning the availability of new notes in the open market while banks claim shortages. “If there aren’t enough notes in the market, how are so many available in the open market?” he asked.
Habibur Rahman, a customer in Gulistan, criticized the situation, saying, “There’s a syndicate for everything. Only in Bangladesh can there be a syndicate for banknotes. With no new notes in banks, we’re forced to buy them at double the price.”
A note trader in Motijheel, speaking anonymously, revealed that new notes are sourced from banks through connections with certain officials, particularly from government banks in Motijheel and Gulistan. The trader disclosed purchasing a 20-taka note bundle for an additional 900 taka and selling it for a 500–600 taka profit. Another trader in Gulistan explained that bank officials sell notes to intermediaries, who then distribute them at higher prices in the open market.
Arif Hossain, Executive Director and Spokesperson of Bangladesh Bank, told UNB that there is no mechanism for new notes to reach the open market directly through the central bank. However, he noted that if customers withdraw notes and sell them in the open market, the bank has no control over it. Addressing allegations of bank officials’ involvement, he urged the public to provide specific details, promising strict action after consultation with the Governor. “Even I, a Bangladesh Bank official, haven’t received new notes, yet they’re being sold at a premium right outside the bank. This is unfortunate,” he said.
Hossain appealed to customers to refrain from buying new notes at inflated prices, stating, “If people stop buying, this syndicate will collapse naturally.”
AI/MR
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