Bangladesh Bank says no plan to demonetise Tk 500, Tk 1,000 notes

Staff Correspondent | Published: 00:00, Sep 27,2019


Bangladesh Bank on Thursday said that it had not taken any decision or the government had not given any directive to demonetise bank notes of Tk 500 and Tk 1,000 denomination.

The central bank issued a statement on the day to clear its stand amid reports published in few media outlets.

The reports had claimed that the government might demonetise Tk 500 and Tk 1,000 bank notes, like Indian move in 2016-2017, amid the ongoing ‘anti-corruption’ drives in casions.

‘The reports about demonetising Tk 500 and Tk 1,000 notes are misleading and false. These reports have spread panic and confusion among people, which might result in instability in money management in the country. This is unexpected,’ said BB in its statement.

It said, ‘Bangladesh Bank is making clear to the people that the central bank has no plan and has not taken any decision to demonetise Tk 500 and Tk 1,000 notes. The government has also not given any directive to demonatise the notes.’

Earlier, prime minister’s economic affairs adviser Mashiur Rahman at the BB headqueters told reporters that the news about demonetisation was baseless.

He held a meeting with central bank officials led by its governor Fazle Kabir to know about the baniking system and exisiting activities.

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