BB considering incentive to bring out coins from household savings
Unb, Dhaka
Bangladesh Bank (BB) is actively considering to offer incentive to bring out coins of Tk 5 and Tk 2 denominations from household savings.It is also considering spot replacement of the torn and dirty notes of Tk 5 and Tk 2 denominations, sending their men to different busy places of cities in the country. "The incentive for the coins may be offered for a short period of time," BB Executive Director Khandakar Muzaharul Huq told reporters at his office Thursday. The incentives might be Tk 2-5 for releasing coins of Tk 100. Huq spoke of the central bank plan amid short supply of coins in the market as well as torn and dirty notes in circulation. According to a BB estimate only 70 million pieces of coins are now in the market out of the total 400 million pieces put in circulation. The senior executive of the central bank also mentioned the bank's efforts to circulate in the market more coins and new notes of Tk 2 and Tk 5 denominations ahead of the holy Eid-ul-Fitr. He also informed that some 200 million new notes of Tk 1,000 denomination would hit the market by the end of this year while Bangladesh Bank is considering to introduce new designs for Tk 500-note to avoid the risk of fake notes in the market.
|