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Business on torn currency notes in Dhaka and Chittagong port city has turned sluggish due to release of large volume of new legal tenders of various denominations by the central bank.
The areas in Gulistan in Dhaka and in front of old Bangladesh Bank building in Chittagong, where such trade on damaged currency notes once thrived, now give a deserted look.
Bangladesh Bank (BB) sources said that they had been releasing huge new currencies and coins since October 9 through its branches across the country.
BB Motijheel Branch sources said that it had been releasing notes as well as coins worth nearly TK 30 billion on the occasion of Eid-ul Fitr through different scheduled banks and of them Tk 21 billion is in new currencies of different denominations.
Traders said that they had huge business just before Eid festivals in the previous year when home-bound people used to collect large amount of new currency notes for offering 'Fitra' and tips to the kids.
They also said that they had huge new currencies collected in connivance with some dishonest Bangladesh Bank employees. "We get notes of various denominations from BB branches of Bogra and Chittagong," Nasir Uddin, a torn and new currency trader in Dhaka said.
Mohmmed Helal, a currency note trader at Gulistan said that the release of huge currency notes by Bangladesh Bank (BB) made their business dull this year.
"Besides, eviction drives against footpath traders by Dhaka and Chittagong Metropolitan Police also contributed to the fall of their business" he added.
Pavement currency traders said that they had been charging on an average Tk 15 for 100 new notes of different denominations. "We charge Tk 30 for 100 new notes of Tk 2 denominations while we charge Tk 10 for coins of different denominations -- Tk 1, Tk 2 and Tk 5 - worth of Tk 100", Hasem, a trader at Gulistan said.
Traders at the Gulistan said that they saw huge demand for notes of Tk 2 and Tk 5, which are now replaced by coins.
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