Foreign currency transactions through cards reached a four-month high in April, reflecting a rebound in international travel and improved economic stability in Bangladesh.
According to Bangladesh Bank data, card-based foreign currency transactions totalled Tk 728 crore in April, up from Tk 614 crore in March, Tk 604.19 crore in February, and Tk 681 crore in January.
However, April鈥檚 figure remains below the Tk 834 crore spent abroad via cards in December 2024 鈥� the highest of the year.
December 2023 had recorded even higher card-based overseas spending at Tk 929 crore.
With educational institutions in Bangladesh closed during this period, many people travel abroad with their children, contributing to the rise in foreign currency transactions via cards, bankers said.
Bankers noted that the foreign exchange transactions by cards depended on availability of dollars and the number of travellers going abroad.
Bankers attribute the April rise to several factors including greater foreign currency availability, increased outbound travel, and seasonal patterns.
They said that due to restricted visa issuance from India, many travellers shifted destinations to Southeast Asia, the Middle East, and Europe for medical, education, and tourism purposes.
Another key driver behind increased card transactions is the improved availability of US dollars in the market.
According to the Bangladesh Bank, the country received $27.5 billion in remittances from July 2024 to May 2025 鈥� 28.7 percent up from $21.37 billion during the same period in FY24.
This surge in remittance inflow helped stabilise the dollar market, making it easier for banks to meet the foreign exchange demands of individual travellers.
Bankers also point to the devaluation of the taka as a contributing factor. The dollar has steadily risen from Tk聽85.80 in December 2021 to Tk 123 in recent months, raising the local currency equivalent of any foreign transaction.
Despite this, card usage has grown due to convenience and accessibility.
Banks have streamlined their forex card services, making it easier for customers to pay tuition fees, hospital bills, and shopping expenses abroad without the need for physical cash or lengthy approval processes.
The card-based foreign currency transactions started rebounding after July 2021 with relaxation of travel restrictions and the amount crossed Tk 250 crore in December 2021. In July 2022, it was Tk 441 crore.
The monthly average transaction volume through cards remains over Tk 600 crore for a year.
Foreign currency transactions using cards have experienced significant growth in the current financial year, as it has become much easier for travellers to obtain foreign currency through cards from banks, bankers said.
Transactions like shopping bills and utility payments can now be made with ease, and transferring money between banks takes just a click鈥攔educing the need to carry cash and making daily life more convenient.