Tk 1, Tk 2 notes to stay

Finance Minister AMA Muhith has said the government has no plan to withdraw Tk 1 and Tk 2 notes from the market for now.

Banknotes of various denominations between Tk 1 and Tk 1,000 are currently in use in Bangladesh. The finance ministry issues Tk 1 and Tk 2 notes, while the central bank releases the rest.

Muhith on Sunday told reporters that Tk 1 and Tk 2 would be gradually withdrawn from the market, making Tk 5 the lowest denomination.

But a day later, when asked about his plan announced on Sunday, the minister promptly retracted.

“We can’t just forcefully withdraw currency notes that are in the market,” he said after a programme in Dhaka.

“They will cease to exist if people stop using them,” Muhith added.

Currently, there are coins for Tk 1 and for Tk 2 there are notes as well as coins. Tk 5 is available in both notes and coins.

Tk 10, 20, 50, 100, 500 and 1,000 are only found in notes.