Despite the Bangladesh Bank’s rollout of redesigned Tk20, Tk50, and Tk1,000 notes ahead of Eid, scheduled banks are struggling to distribute the currency to the public — even as the same notes flood the open market at inflated prices.
In bustling areas like Motijheel and Gulistan, traders were seen openly selling new notes on sidewalks. A Tk20 note is being sold for Tk50, Tk50 notes for Tk80, and Tk1,000 notes at a markup of up to Tk60. Bundles are fetching premiums of Tk1,200 to Tk1,500.
While customers queue in vain at banks, traders are stocked and thriving. Bank officials admit that only limited quantities reached select branches, leaving most offices dry.
Frustrated customers accused a black-market syndicate of colluding with insiders at state-owned banks. Anonymous traders confirmed the claim, saying intermediaries with ties to bank staff are securing and redistributing the new notes at a profit.
Bangladesh Bank acknowledged the issue but distanced itself from the illegal trade. Executive Director Arif Hossain urged citizens not to support the black market and promised action if credible evidence of internal involvement is brought forward.
As demand spikes ahead of Eid, the mismatch between official distribution and street availability has triggered widespread frustration and calls for accountability.
