Studying MBBS in Bangladesh has gained immense popularity among Indian and other international students. With affordable tuition fees, cultural similarity, English-medium education, and globally recognized degrees, Bangladesh is a top destination for medical aspirants. However, one crucial factor that often challenges students and parents is currency exchange and international payment management.
Currency exchange issues may seem minor, but in reality, they can impact admission timelines, tuition fee transfers, living expenses, and even emergency situations. Since Bangladesh uses the Bangladeshi Taka (BDT) while most students carry Indian Rupees (INR) or US Dollars (USD), managing funds becomes a crucial part of student life.
This article explores the currency exchange issues faced by Bangladesh MBBS students, why they happen, their financial consequences, and practical solutions.
For an MBBS student, managing finances is as important as attending lectures or clinical practice. Students and parents usually pay fees in a foreign currency, handle hostel charges, and meet daily living expenses. This requires frequent conversions from INR or other home currencies into Bangladeshi Taka.
Key financial needs where currency exchange plays a role:
Tuition Fees – Paid in USD or BDT directly to the university.
Hostel Fees – Usually collected in BDT.
Mess and Food Expenses – Daily needs settled in BDT.
Books and Study Materials – Purchased locally in Taka.
Emergency Funds – Quick availability of BDT during medical or travel needs.
The value of INR against BDT or USD often fluctuates.
Small variations in exchange rates can increase tuition fees and living costs significantly.
For example, a difference of ₹1 per 100 BDT can impact payments by thousands over a year.
Banks add service fees and hidden margins when converting INR to USD or BDT.
Students end up paying much more than the actual exchange rate.
In some cases, Indian banks or forex centers face shortages of USD notes.
Since many universities in Bangladesh demand fees in USD, students struggle with delayed payments.
Indian regulations limit how much foreign currency can be carried physically during travel.
Students cannot depend only on cash for long-term expenses.
Some students fall victim to unauthorized currency exchange operators.
This can lead to counterfeit notes, unfair rates, or even financial fraud.
SWIFT transfers and wire payments from Indian banks sometimes take 5–7 working days.
If deadlines are close, delays can cause late fee penalties.
International debit and credit cards may not always work smoothly due to banking restrictions.
Students face daily withdrawal limits, and each transaction carries conversion charges.
Sometimes INR is first converted into USD and then into BDT.
This double conversion increases overall costs unnecessarily.
Currency exchange issues don’t just affect money – they directly influence a student’s academic and personal life.
Stress on Parents – Unexpected extra charges increase financial pressure.
Admission Delays – Incorrect or late payments may put admission at risk.
Living Cost Inflation – Fluctuating rates make monthly budgets unpredictable.
Emergency Uncertainty – In medical or urgent situations, lack of immediate BDT creates hurdles.
Extra Burden on Students – Instead of focusing only on academics, students worry about finances.
Always use Indian banks or RBI-authorized forex dealers for international transfers. This ensures:
Genuine exchange rates.
Official receipts for transactions.
No risk of counterfeit currency.
If students use an education loan, banks directly transfer tuition fees to the university in USD or BDT, minimizing exchange issues.
Load money in INR in India, spend in BDT in Bangladesh.
Secure, convenient, and safer than carrying cash.
Widely accepted in ATMs and shops.
Most students prefer carrying USD during their initial travel. USD is easily convertible to BDT in Bangladesh.
Avoid last-minute fee payments. Initiating payments 10–15 days before deadlines reduces stress caused by bank delays or rate fluctuations.
Parents should regularly track INR–BDT and INR–USD rates. Using forex apps helps in transferring money when the rates are favorable.
Many universities have tie-ups with payment gateways like Flywire or bank partners. Using them ensures quick and safe transactions.
Students must check:
Daily withdrawal limits.
Charges per transaction.
Bank partnerships between Indian and Bangladeshi banks.
Both India and Bangladesh have strict currency laws. Students should understand them to avoid legal complications.
India: Under RBI guidelines, a maximum of USD 250,000 per year can be remitted under the Liberalized Remittance Scheme (LRS).
Bangladesh: Foreign students must declare cash above a certain limit at the airport and convert money only through licensed banks or exchange counters.
MBBS in Bangladesh usually lasts 5 years plus 1 year of internship. Currency exchange issues can accumulate into a significant financial burden if not managed well.
Example Calculation:
If exchange rate fluctuations add even 2% to yearly fees, over 5 years, parents may end up paying an extra ₹1–2 lakhs.
Proper planning with forex cards, bank transfers, and monitoring rates can save substantial amounts.
First-year students often rely on Indian mess services and need BDT regularly. Forex cards are the easiest solution.
Hostel fees are best paid through direct bank transfers in USD to avoid middlemen.
Emergency funds should always be partly in cash (USD/BDT) and partly in a forex card.
Students recommend making friends with local bank staff in Bangladesh for smoother transactions.
| Method | Safety | Convenience | Charges | Best Use |
|---|---|---|---|---|
| Bank SWIFT Transfer | Very High | Medium | Medium | Tuition & hostel fees |
| Forex Card | High | High | Low to Medium | Daily expenses |
| Carrying USD in Cash | Medium | Medium | Low | Initial travel expenses |
| Local Exchange Dealers | Low | High | Variable | Should be avoided |
| Debit/Credit Card | High | Medium | High | Emergencies only |
Confirm university’s official bank details before transferring.
Use RBI-authorized channels for all transactions.
Keep copies of receipts for visa and admission records.
Diversify payment methods – don’t depend only on one source.
Always have a small emergency fund in BDT cash.
Currency exchange issues are a real and common challenge for MBBS students in Bangladesh. From fluctuating exchange rates to transaction delays, students face hurdles that can impact their academic journey and family finances.
However, with advance planning, use of official banking channels, forex cards, and careful monitoring of currency rates, these issues can be minimized.
The safest strategy is a balanced approach:
Use bank transfers for tuition and hostel fees.
Carry USD for initial travel.
Use forex cards for daily expenses.
Keep a backup of BDT cash for emergencies.
By following these practices, students can focus on their medical education without being distracted by financial stress.