Vendors reap easy profit as lure of fresh notes sees punters swarm Gulistan
11 Jun 2018, 14:41
Dhaka: Vendors of shiny-as-new taka notes are making an easy profit as fresh note-seekers are on the spree to collect on the occasion of Eid-ul-Fitr.
The preference for carrying fresh notes on the occasion of Eid, though not rational, reflects the special place in their hearts for Eid, reports the UNB.
Elders seek to live up to the expectations of the young ones, not only with the amount in taka of the Salami (blessings) they proffer. They must also make sure it is denominated in hard, new cash that crackle as you fold and unfold them.
Visiting the thriving roadside stalls in Gulistan and Sadarghat, UNB correspondent found sellers are busy to sell the new note to the note seekers, and customers were collecting their new notes from the street vendors paying a charge.
The vendors informed that during the Eid festive season they charge TK150 to TK 500 per bundle containing 100 new notes, on top of the monetary value of the bundle. So, for example, a bundle of new Tk 5 notes will cost Tk 650 - (500 + 150) a for Eid season but normally they sell new notes for a premium of TK50 from TK150 over the bundle.
‘We are satisfied with the current sale of the new currency as we are getting many buyers during the Eid season comparing to the normal days. They (note seekers) collect money without considering the high charge,’ said Alamgir, a street vendor in the Gulistan area.
Mohammad Saiful Islam, a hawker in the city’s Jatrabari area who came to Gulistan for new notes, told UNB that he had bought the new notes for his children and relatives.
‘I do not prefer to go to the banks to collect money as they are reluctant to provide the new note to us. But my children expect the new note from me in the Eid. If they get the new note, they feel happy. So I collect before every Eid.’
Though banks sell new notes on the occasion too, many new note seekers like Saiful rush to the street vendor. They claim that collecting money from the bank is a hassle and harassment. So most of the people collect note from the street vendor paying a charge for avoiding the hassle.
They (vendors) said they can sell a good amount of the new notes from four or five days ahead of Eid with the good rate. So they (vendors) are waiting for the eleventh hour.
On the other hand, Bangladesh Bank (BB) released new currency notes for Taka 10, 20, 50 and Taka 100 in the market ahead of Eid-ul-Fitr from June 3.
The new notes are being distributed from all branches of Bangladesh Bank across the country every day which will be run until June 14 and remain closed in the government holidays.
The note seekers also can collect the new note from the specific banks of the city without paying any extra charge.
But the central bank said a person will be allowed to collect notes once up to a maximum of Tk18, 000. A proprietor of clothing shop ‘Smart Zone’ in Dania Union which is now a part of the Dhaka South City Corporation Asif Khan said ‘There is no meaning to wasting time for collecting money by maintaining a long queue in the bank. So it is better to collect new notes from the street vendor to the banks whether it is legal or illegal.’
‘Banks denied providing the expected amount what I need. So I chose the street vendor. Though it is illegal buying note outside the banks, it is easy for me to collect money,’ the small entrepreneur Asif Khan added.
Bangladesh Bank released new currency notes worth Tk25, 000 crores in the market ahead of Eid ul-Fitr this year.