BB asks money changers to use fake note detectors

Bangladesh Bank has directed authorised and licensed money changers to install fake banknote detection machines to tackle counterfeiting.

BB’s Foreign Exchange Policy Department issued a notification and sent it to authorised money changers on Monday.

The notification asked money changers to download the central bank’s poster explaining the security features of banknotes and put it on display at their shops.

A senior BB official told The Business Post that money changers had been asked to install at least one fake banknote detection machine to provide better customer services and prevent the circulation of counterfeit notes.

Currently, 235 licenced money changers are operating in the country, mostly in Dhaka, while the rest are in Chattogram, Sylhet, Khulna, Rajshahi, Rangpur, Bogura and Barishal.