Bangladesh Bank instructs to export £20, £50 paper notes by 30 Sept
The central bank also advised money changers holding these notes to sell the same to banks intending to export
The Bangladesh Bank has instructed banks dealing in foreign currency to export £20 and £50 paper notes by 30 September.
The Foreign Exchange Policy Department of the central bank issued a circular in this regard Tuesday (19 July).
A senior official of Bangladesh Bank said that the decision was taken to export these notes out of the country as the UK central bank announced to withdraw these two notes from the market.
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"Paper £20 and £50 banknotes of Bank of England will no longer be legal tender from September 30, 2022. Banks having stock of such paper notes are advised to export the currencies by the stipulated time frame without fail," reads the circular.
The central bank also advised money changers holding these notes to sell the same to banks intending to export.
"Instead of individual transactions, Banks and money changers holding the said notes may select a lead Bank through which exports may be executed to minimise costs."
