Bangladesh Bank (BB) has raised the annual foreign exchange entitlement for Bangladeshi citizens travelling abroad to $18,000 from $12,000, aiming to facilitate genuine travel-related foreign exchange requirements.

The central bank announced the decision through FE/PD-1 Circular No. 33, issued Sunday by its Foreign Exchange Policy Department-1.

Under the circular, authorised dealers (ADs) may release foreign exchange to an adult Bangladeshi national residing in the country for overseas travel up to $18,000, or its equivalent, during a calendar year.

"With a view to facilitating the genuine travel-related foreign exchange requirements of Bangladeshi nationals and considering the evolving needs of international travel, Bangladesh Bank decided to enhance the annual travel entitlement," the circular said.

The entitlement for minors below 12 years of age will remain at 50 percent of the amount allowed for adults.

The central bank also clarified that the release of foreign exchange in the form of US dollar notes will remain capped at $5,000 per person within the applicable annual entitlement.

All other instructions relating to the release of foreign exchange for travel abroad will remain unchanged, it said.

Bangladesh Bank has asked all authorised dealers to bring the contents of the circular to the notice of relevant clients.