BB to release new-design notes before Eid

Bangladesh Bank will release newly designed banknotes before the upcoming Eid-ul-Azha. The new notes, ranging from Tk2 to Tk1,000, will feature artwork related to the July uprising as well as symbols of the country's heritage and culture. Designs for all denominations have already been finalized.

Arif Hossain Khan, spokesperson of Bangladesh Bank, confirmed the information to the media.

He said it usually takes 1 to 1.5 years to print new banknotes, but due to public demand, they will release some of the notes before Eid.

Although nine types of new notes are being printed, not all of them will be available at once.

Meanwhile, banks are unable to provide notes featuring Bangabandhu Sheikh Mujibur Rahman’s image, despite high demand. As a result, customers are being forced to exchange torn and damaged notes in open markets, often incurring financial loss.

Even nine months after the change in political leadership, new design notes have not been released. Because of the image of Bangabandhu on the notes, new currency was not distributed during the last Eid-ul-Fitr, which increased demand in the open market.

Due to the shortage of new notes, the number of torn notes in circulation has risen. Many people are exchanging these old or damaged notes in areas like Gulistan and Motijheel in Dhaka, often at extra cost.

At banks, exchanging damaged notes involves strict rules and procedures. Although banks have notes with Bangabandhu’s image in their vaults, they are not permitted to distribute them without instructions from Bangladesh Bank.

According to the central bank, as of last December, the total amount of notes in circulation was Tk3.01 trillion. While there is a yearly demand for 1.5 billion new notes of different denominations, the printing press can only produce about 1.2 billion.