Bangladesh Bank dismisses news of scrapping Tk 500, Tk 1,000 notes as rumour

The central bank has brushed aside as simply a rumour the news that the Tk 500 and Tk 1,000 bank notes will be scrapped.

Staff Correspondentbdnews24.com
Published : 26 Sept 2019, 04:22 PM
Updated : 26 Sept 2019, 04:35 PM

The rumour about an India-style scrapping of the bank notes spread on social media after the law enforcers recovered a huge amount of cash in raids on illegal casinos.

Many wrote that the government is scrapping the notes to stop the flow of illegal money much like the Indian government did in 2016.

On Thursday, the Bangladesh Bank in a media release said “some” news media were spreading “misleading and false” news on the notes being scrapped.

“They are creating fear and confusion among the people by publishing such misleading news. It may destroy stability of the country’s currency management system,” it warned.

The release confirmed that neither the central bank plans to scrap the bank notes now nor has the government issued any such directive.

It urged all, including the media, not to spread misleading news on the issue.