A Bangladeshi citizen from the next year will be able to spend up to $12,000 in a year abroad.
The existing limit is $5,000 for SAAARC countries and Myanmar and it is $7,000 for other countries.
However, a person cannot carry more than $5,000 in cash on a single travel. In that case, one can spend up to the highest limit of $12,000 using credit cards.
It will take effect on the first day of 2020, according to a circular issued by Bangladesh Bank on Thursday.
However, minors below 12 years old will be able to spend half the amount for adults, a total of $6,000.
The central bank raised the limit upon requests from various quarters as the travel costs have gone up over the years.
Speaking to The Business Standard, a senior BB official said the limit for the Bangladeshis are very low compared to that of an Indian citizen who can spend up $250,000 every year on travel purposes.
Besides, businesspersons engaged in export-import trade can spend an additional $10,000 on travel purposes.