Bangladesh Bank has decided to print 30,000 crore new bank notes on the occasion of the upcoming Eid-ul-Fitr which is 8 thousand crore more than last year.
When asked, Sirajul Islam, executive director of Bangladesh Bank, said bank notes are supplied to the market throughout the year following the demand-supply policy. However, as the demand is higher before Eid, more new bank notes are released at this time.
Following this, new bank notes will be issued again. He also said that it is expected that there will be more demand for Taka 200 bank notes this time.
It is learned that this time the new currency includes 10, 20, 50, 100, 200 and 500 rupees notes. The same amount of old notes will be withdrawn from the market as before. Last year (2019), new bank notes worth around Taka 22,000 crore were issued on Eid. However, it has been decided to supply new bank notes worth Taka 30,000 crore this year.
Bangladesh Bank will withdraw old money from the market and supply new bank notes. But first it will supply notes worth Taka 25,000 crore. Later, if necessary, another 5 thousand crore worth bank notes will be issued.
According to the Bangladesh Bank, about 1 lakh 76 thousand crore paper notes are now in circulation in the market. Generally, the demand for paper notes is limited to Taka 150,000 crore.