New banknotes available on Motijheel footpaths, but not at banks
Vendors said demand is concentrated on smaller denominations, while bundles of higher-value notes such as Tk500 and Tk1,000 attract fewer buyers.
New banknotes are available to vendors on the footpaths in the banking hub of Motijheel in the capital, though Bangladesh Bank earlier decided not to release any banknotes ahead of the Eid-ul-Fitr this year.
A temporary market for new banknotes has emerged along the sidewalks of Motijheel, where the central bank is located. Bundles of new notes were seen being sold by makeshift sellers, whereas customers were buying them at higher rates.
Nearly a dozen vendors have set up makeshift stalls on the footpath, displaying bundles of Tk20, Tk50 and Tk100 notes for sale. The crisp notes, traditionally used for giving Eid salami to children and exchanging festive greetings, are being sold at prices well above their face value.
Keep updated, follow The Business Standard's Google news channel
Vendors said demand is concentrated on smaller denominations, while bundles of higher-value notes such as Tk500 and Tk1,000 attract fewer buyers.
Each vendor was seen stocking up on new notes worth Tk4 to Tk5 lakh. When the notes in stock run out, they bring new notes from a nearby reserved space and sell them.
Speaking on condition of anonymity, a vendor explained that the halt in bank distribution has driven demand to the streets.
"Every Eid, people look for new notes. This year, banks are not supplying them, so demand for our stock is higher," he said. "We also collect them at higher prices, so we sell with a small profit."
Buyers say they have little choice but to pay the extra cost.
Tahira Akter, who came from TT Para in the capital to buy new notes for her daughter, purchased a bundle of Tk20 notes after bargaining, paying an additional Tk380.
"New notes are needed to give salami to children during Eid," she said. "Banks are not providing them this year, so we had to buy from here. The price is high, but there is no alternative."
Currently, a bundle of Tk10 notes worth Tk1,000 is being sold for about Tk1,350. Bundles of Tk20 notes cost around Tk400 extra, while Tk50 bundles sell for roughly Tk500 more and Tk100 bundles for about Tk600 above face value.
