Bangladeshi taka
টাকা
1000 Taka Note 1000 Taka Note
ISO 4217 code	BDT
Central bank	Bangladesh Bank
Website	www.bangladeshbank.org.bd
User(s)	Bangladesh
Inflation	5.39 %
Source	Global Times;source from Bangladesh Bureau of Statistics July 2009
Subunit
1/100	poisha
Symbol
Coins
Freq. used	1, 2, 5 Taka
Rarely used	1, 5, 10, 25 & 50 poisha
Banknotes
Freq. used	2, 5, 10, 20, 40 (commemorative), 50, 60 (commemorative), 100, 500 & 1000 Taka
Rarely used	1 Taka
Printer	The Security Printing Corporation Bangladesh Ltd.
Website	www.spcbl.org.bd

This article contains Indic text. Without proper rendering support, you may see question marks or boxes, misplaced vowels or missing conjuncts instead of Indic text.

The Taka (Bengali:টাকা, sign: ৳ or Tk, code: BDT) is the currency of Bangladesh. Bangladesh Bank, the central bank of the country, controls the issuance of the currency, except one taka and two taka notes, which are the responsibility of the Ministry of Finance of the government of Bangladesh. The most commonly used symbol for the Taka is Tk and ৳, used on receipts while purchasing goods and services. One taka is subdivided into 100 poisha.

In Bengali, the word "taka" is also commonly used generically to mean any money, currency, or notes. Thus, colloquially, a person speaking Bengali may use "taka" to refer to money regardless of what currency it is denominated in. The currency sign is encoded in Unicode at U+09F3 ৳ bengali currency sign (HTML: ৳).

History[link]

In 1971, the erstwhile province of East Bengal became the independent nation of Bangladesh with the Pakistan Rupee as its interim currency. The taka became Bangladesh's currency in 1972, replacing the Pakistani rupee at par. The word "taka" is derived from the Sanskrit term तनक tanka which was an ancient denomination of silver coin. The term taka was widely used in different parts of India but with varying meanings. In north India, taka was a copper coin equal to two paise and in the south, it was equal to four paisa or one anna. It was only in Bengal and Orissa where taka was equal to rupee. In all areas of India, taka was used informally for money in general. However, Bengal was the stronghold of taka.

The rupee was introduced by the Turko-Afghan rulers and was strongly upheld by the Mughals and the British rulers. The Bengali and Oriya people always used the word taka for the rupee, whether silver or gold. Ibn Battuta, the Arab traveller, noticed that, in Bengal, people described gold coins (Dinar) as gold tanka and silver coin as silver tanka. In other words, whatever might be the metallic content of the coin, the people of Bengal called it taka. When the Pakistan Rupee was issued prior to 1971 bearing both Urdu and Bengali alphabets (the official languages of the West and East zones respectively), the word taka was used in Bangla version instead of rupiya, as in Urdu version.

In India[link]

In West Bengal, Tripura, Mizoram, Orissa, and Assam, the Indian rupee is officially known by names derived from the word टङ्क (ṭaṃka) which means money. Thus, the rupee is called টাকা (ṭaka) in Bengali, টকা (tôka) in Assamese, and ଟଙ୍କା (ṭangka) in Oriya. The amount and the word "rupee" is accordingly written on Indian banknotes in several Indian languages including টকা, টাকা.

Issuing authority[link]

Banknotes 5 taka and larger are issued by the Bangladesh Bank which is the central bank of Bangladesh. These notes bear the signature of the governor of the Bangladesh Bank who promises to pay the equivalent value in exchange. 1 and 2 taka notes are issued by the Ministry of Finance of the government of Bangladesh and bear the signature of the Finance Secretary.

Value fluctuation[link]

Upon Bangladesh's independence, the value of the Bangladeshi taka was set between 7.5 and 8.0 to US$1.^[1] With the exception of fiscal year 1978, the taka's value relative to the US dollar declined every year from 1971 through the end of 1987.^[1] To help offset this phenomenon, Bangladesh first used the compensatory financing facility of the International Monetary Fund in fiscal year 1974.^[1] Despite the increasing need for assistance, the Mujib government was initially unwilling to meet the IMF's conditions on monetary and fiscal policy.^[1] By fiscal year 1975, however, the government revised its stance, declaring a devaluation of the taka by 56 percent and agreeing to the establishment by the World Bank of the Bangladesh Aid Group.^[1]

Between 1980 and 1983, the taka sustained a decline of some 50 percent because of a deterioration in Bangladesh's balance of payments.^[1] Between 1985 and 1987, the taka was adjusted in frequent incremental steps, stabilizing again around 12 percent lower in real terms against the United States dollar, but at the same time narrowing the difference between the official rate and the preferential secondary rate from 15 percent to 7.5 percent.^[1] Accompanying this structural adjustment was an expansion in the amount of trade conducted at the secondary rate, to 53 percent of total exports and 28 percent of total imports.^[1] In mid-1987, the official rate was relatively stable, approaching less than Tk31 to US$1.^[1] In January 2011, one US dollar was equivalent to approximately 72 Bangladeshi taka^[2] and as of 21 April 2012, one US dollar is worth close to 82 Bangladeshi taka.

Coins[link]

In 1973, coins were introduced in denominations of 5, 10, 25 and 50 poisha. 1 poisha coins followed in 1974, with 1 taka coins introduced in 1975. The 1, 5 and 10 poisha were struck in aluminium, with the 25 and 50 poisha struck in steel and the 1 taka in copper-nickel. The 5 poisha were square with rounded corners, whilst the 10 poisha were scalloped. Steel 5 taka were introduced in 1994, whilst a steel 2 taka coin followed in 2004.

1 and 5 poisha coins are rarely found in circulation. 10, 25, and 50 poisha coins do not circulate widely. Only the 1, 2 and 5 taka are regularly found in circulation.

Banknotes[link]

Prior to the civil war, banknotes of the State Bank of Pakistan circulated throughout Bangladesh, and continued to be used in Bangladesh even after independence. During the war, it was an unofficial practice of some Bengalis to protest Pakistani rule by stamping banknotes with Bengali DESH as two words in either Bengali or English. These locally-produced stamps are known to exist in several varieties, as are forgeries, so be suspicious of fresh stamps on old notes, bi-lingual stamps, or stamps on notes with Karachi or Lahore imprints instead of Dhaka. On 8 June 1971, the Pakistani government declared that all banknotes bearing such stamps ceased to be legal tender. Furthermore, to prevent looted high-denomination notes from disrupting the Pakistani economy, the government also withdrew the legal tender status of all 100- and 500-rupee notes.^[3]

These were followed in 1972 by treasury notes for 1 taka and notes of the Bangladesh Bank for 5, 10 and 100 taka. In 1975, banknotes for 50 taka were introduced, followed by 500 taka in 1977 and 20 taka in 1980. 1 taka treasury notes were issued until 1984, with 2 taka treasury notes introduced in 1989.

In 2000, the government issued polymer 10 taka notes as an experiment (similar to the Australian dollar). They proved unpopular, however, and were withdrawn later. At present, the 1 taka and 5 taka notes are gradually being replaced with coins.

In 2008, the government issued 1000 taka notes.

In 2011, Bangladesh Bank began issuing a new series of banknotes denominated in 2, 5, 100, 500, and 1000-taka. All are dated 2011 and feature a portrait and watermark of the Father of the Nation, Bangabandhu Sheikh Mujibur Rahman, along the National Martyr's Monument in Savar at center front.^[4]

In 2011, Bangladesh Bank introduced a 40-taka note to commemorate the "40th Victory Anniversary of Bangladesh". The commemorative note features a portrait of the Father of the Nation, Bangabandhu Sheikh Mujibur Rahman and the National Martyr's Monument in Savar on front, and six armed men on back. Curiously, this note has an electrotype 10 in the watermark, indicating it was likely printed on extra 10-taka banknote paper.^[5]

On February 15, 2012, Bangladesh Bank has introduced a 60-taka note to commemorate "60 years of National Movement". The commemorative note measures 130 x 60mm and features the Shaeed Minar (Martyrs' monument) in Dhaka and five men on the back. Like the 40-taka commemorative note, this note has an electrotype 50 in the watermark. It was likely printed on extra 50-taka banknote paper.^[6]

Bangladesh Bank plans to introduce new notes denominated in 10, 20, and 50-taka on March 7, 2012. The notes bear the portrait of Bangabandhu Sheikh Mujibur Rahman and the National Martyr's Monument in Savar on the front. On the back of the notes, the 10-taka will picture the Baitul Mukarram mosque, the 20-taka pictures the Shat Gombuk mosque in Bagherat, and the 50-taka notes feature Shilpacharya Jainul Abedin's famous painting “Ploughing.”^[7]

Bangladesh Bank has withdrawn the new 50-taka note after a spelling mistake of Shilpacharya Zainul Abedin was identified on the back of the note. The note had just been introduced on March 7, so it is likely that very few made it into circulation, even though 2.25 crore pieces were printed.^[8]

Currently Circulating Notes
Image		Value	Dimensions	Main Colour	Description		Date of		Remarks
Obverse	Reverse				Obverse	Reverse	issue	Status
		2 ৳ (Taka)	100 × 60 mm	Orange and green	Shahid Minar	National Bird Doyel	29 December 1988	Current	To be replaced by 2 Taka coins. voted world's most beautiful currency note.[9][10]
		5 ৳ (Taka)	119 × 64 mm	Cream	Mehrab	Industrial landscape	8 October 2006	Current	first issued on 2 May 1978
		10 ৳ (Taka)	122 × 59 mm	Pink	Baitul Mukarram	Jatiyo Sangshad Bhaban	Present version 21 September 2006	Current	first issued on 2 June 1972
		20 ৳ (Taka)	130 × 60 mm	Green	Choto Sona Mosque	4 men washing jute	Present version 13 July 2002	Current	first issued on 20 August 1979
		50 ৳ (Taka)	130 × 60 mm	Cream, lime green	Jatiyo Sangshad Bhaban	Bagha Mosque	Present version 30 July 2005	Current	first issued on 1 March 1976
		100 ৳ (Taka)	140 × 62 mm	Blue	National Monument	Jamuna Bridge	Present version 16 July 2006	Current	first issued on 1 September 1972
		500 ৳ (Taka)	153 × 69 mm	Purple	National Monument	The Supreme Court, Dhaka	Present version 24 October 2004	Current	first issued on 15 December 1976
		1000 ৳ (Taka)	160 x 72 mm	Reddish pink	Shahid Minar	Curzon Hall	Present version 27 October 2008	Current	first issued on 27 October 2008
		10 ৳ (Taka) (Polymer banknote)	152 x 64 mm	Pink	Bangabandhu	Jatiyo Sangshad Bhaban	14 December 2000	Withdrawn	First Polymer note in Bangladesh
These images are to scale at 0.7 pixels per millimetre. Source: Bangladesh Bank website

See also[link]

• Economy of Bangladesh

References[link]

External links[link]

• Bangladesh Bank's page on currencies in circulation
• High resolution scans of Bangladeshi currency

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