New banknotes to be released before Eid

The release of new banknotes is expected to resolve the long-standing issues in the country's cash transactions. In the past nine months under the interim government, no new banknotes were released, which led to a severe shortage of usable currency—especially old and torn notes—in banks and ATM booths.

Bangladesh Bank spokesperson Arif Hossain Khan stated that new 20 and 50 taka notes may be released on the 25th or 26th of this month. Following that, at the beginning of June—likely on the 1st—a newly designed Tk1,000 note will be introduced, which will feature eight security features. In the first phase, the plan is to release new currency worth a total of Tk1,000 crore.

The designs of the new notes emphasize Bangladesh’s history, heritage, and the events of the July uprising. Currently, there are nine types of paper currency in circulation in the country, each of which features a portrait of Bangabandhu Sheikh Mujibur Rahman. However, since the July uprising, there have been increasing demands to change these notes. Although the current government began the process after taking office, it was delayed for various reasons. Now, the process of gradually replacing all existing notes has begun.

According to Bangladesh Bank, the total amount of money currently in circulation is around Tk1.52 lakh crore. However, the amount of currency in printed reserve is more than double that.

It is hoped that if the new notes are released before Eid, the ongoing cash crisis will be at least partially resolved.