New instructions on 1, 2 and 5 taka coins

The central bank has ordered to store minimum fixed number of metal currency or coins of 1, 2 and 5 taka denomination in every branch of the scheduled bank of the country.

A number of scheduled bank branches are not dealing with the demand of the public even though they keep certain amount of metal coins only in vaults. As a result, although there is a demand for metal coins, the public is not able to collect metal coins from scheduled banks. As a result, Bangladesh Bank has given such instructions about the coins.

The Department of Currency Management (DCM) of Bangladesh Bank has informed this information in a circular on Monday (November 18).

It is said that several branches of scheduled banks keep certain amount of metal currency only in vaults but are not trading as per the demand of the public. As a result, although there is a demand for metal coins, the public is not able to collect metal coins from scheduled banks.

In this situation, for the sake of daily normal transactions of the public, instructions have been given to keep a minimum fixed number of metal coins or coins of 1, 2 and 5 taka denomination in every branch of the scheduled bank operating in the country.

First of all, the transaction of 1, 2 and 5 taka should be ensured according to public demand.

Secondly, in order to keep the transaction normal, Bangladesh Bank should follow the fixed number of coins of 1, 2 and 5 taka. Local offices and feeding branches of scheduled banks should keep 24 thousand pieces of 1 taka coins, 24 thousand pieces of 2 taka coins and 15 thousand pieces of 5 taka coins.

Apart from this, 8 thousand pieces of 1 taka coins, 8 thousand pieces of 2 taka coins and 5 thousand pieces of 5 taka coins should be kept in every other branch.

And in each sub-branch, 2 thousand pieces of 1 taka coins, 2 thousand pieces of 2 taka coins and 1 thousand pieces of 5 taka coins should be kept.

However, as a result of the transaction, the status of the metal currency may decrease, Bangladesh Bank said, if the status decreases from the minimum number, the public can collect from the feeding branch and the nearest Bangladesh Bank if necessary. The central bank has issued instructions in this regard to the managing directors and chief executive officers of all scheduled banks operating in Bangladesh.