Bangladeshi Taka: A Comprehensive Guide to Bangladesh's Currency

The Bangladeshi taka is the official currency of Bangladesh, and it's essential to understand how it works if you're planning a trip or living in the country. The taka is subdivided into 100 poisha, although poisha coins are no longer in circulation.

You can exchange your money for taka at currency exchange offices, banks, or even some hotels. It's a good idea to have some local currency with you when you arrive in Bangladesh, especially if you plan to travel to rural areas.

The Bangladeshi taka is available in various denominations, including 1, 2, 5, 10, 20, 50, 100, and 500 taka notes. You can also find coins in denominations of 1, 2, and 5 taka.

Discover more: What Is the Mexican Money Called

The Bangladeshi taka has a rich history that dates back to the country's independence in 1971. The taka is derived from the Sanskrit word "tankah", meaning silver coin, according to The American Heritage Dictionary of the English Language and Banglapedia.

In Bangladesh, the word "taka" is commonly used to refer to money, currency, or notes, regardless of the denomination. This is also the case in neighboring West Bengal and Tripura in India, where the official name of the Indian rupee is "taka" as well.

The taka was introduced as the official currency of Bangladesh in 1972, and since then, the country has introduced higher denomination notes, such as the 50-taka note in 1977 and the 1,000-taka note in 2008.

Here's a brief timeline of the taka's history:

The taka has undergone significant changes since its introduction, with fluctuations in its value against major currencies, including the US dollar.

The word "taka" originated from the Sanskrit language, specifically from the word "tankah", which means silver coin. This ancient Sanskrit term has been passed down through time and has evolved to represent a unit of currency in various parts of India and Bangladesh.

In Bangla, "taka" is used colloquially to refer to any form of money or currency, regardless of its denomination. This usage is also common in the Indian states of West Bengal and Tripura, where the official name of the Indian rupee is "taka" as well.

Interestingly, the Sanskrit word "tankah" has influenced other languages in India, such as Maithili and Magadhi, where it is referred to as "taka" in those languages. In Assam, it is pronounced as "টকা tôka", while in Odisha, it is written as "ଟଙ୍କା taṅkā."

The Bangladeshi taka has a fascinating history that spans over five decades. It was introduced as the official currency in 1972, replacing the Pakistani rupee after Bangladesh gained independence.

The taka was initially pegged to the US dollar at a rate of ৳7.5 to ৳8.0. However, its value declined over the years, with a significant drop of 50% between 1980 and 1983.

The government of Bangladesh used the compensatory financing facility of the International Monetary Fund in 1974 to help offset the decline. By 1987, the devaluation of the taka was relatively under control.

In 1977, the government introduced the 50-taka note, followed by the 1,000-taka note in 2008. The taka has also been used as a subunit in some neighboring countries.

Here's a brief overview of the taka's history:

The taka has come a long way since its introduction in 1972, and its value has fluctuated over the years. Despite its challenges, the taka remains an important part of Bangladesh's economy and culture.

The official currency of Bangladesh is the taka, often referred to as code BDT. You'll often see it written out with the symbol "৳" directly before the number, with no space.

The taka is divided into 100 poishas, and the singular form of poishas is poisha. The Bangladesh Bank, which is the central bank of Bangladesh, issues most taka bills, except for the ৳1 and ৳2 notes, which are printed by the Bangladesh Ministry of Finance.

You can exchange other currencies for Bangladeshi taka, but it's essential to know the exchange rates and options available.

Additional reading: Gold Rate Bangladesh Taka

Bangladeshi taka banknotes come in various denominations, including ৳1, ৳2, ৳5, ৳10, ৳20, ৳50, ৳100, ৳500, and ৳1000. The ৳1 and ৳5 notes have mostly been replaced with coins since the early 2000s.

You can find banknotes denominated as follows: 1 taka, 2 takas, 5 takas, 10 takas, 20 takas, 50 takas, 100 takas, 500 takas, and 1000 takas.

Bangladeshi coins are also available and come in the following denominations: 1 poisha, 5 poishas, 10 poishas, 25 poishas, 50 poishas, 1 taka, 2 takas, and 5 takes.

Suggestion: Mexican Peso Coins Value

Bangladesh has a variety of coins and notes that are worth knowing about. The official currency of Bangladesh is the taka, denoted by the symbol ৳. You can find banknotes denominated as follows: ৳1, ৳2, ৳5, ৳10, ৳20, ৳50, ৳100, ৳500, and ৳1000.

The Bangladesh Bank is responsible for issuing most taka bills, except for the ৳1 and ৳2 notes, which are printed by the Bangladesh Ministry of Finance. One taka is made up of 100 poishas, with the singular form being poisha.

For more insights, see: Bangladesh Taka to Gbp

You can exchange other currencies for Bangladeshi taka at various locations, including banks and currency exchange offices. It's essential to know the current exchange rates before making a transaction.

Bangladesh has different versions of banknotes to commemorate special events in history, such as the 40th Victory Anniversary of Bangladesh, 60 years of National Language Movement, 25th anniversary (silver jubilee) of the Security Printing Corporation, and 100th anniversary of the Bangladesh National Museum.

Here are the denominations of Bangladeshi coins:

It's worth noting that one-taka notes and coins are unique compared to other denominations. The signature of the Central Bank governor is printed on every banknote aside from the one-taka bill. One-taka coins are also rare and hardly ever used due to inflation.

Intriguing read: Philippines 1000 Peso Bill

One person is featured on all taka bills, a unique characteristic of the Bangladeshi currency.

This person is Bangabandhu Sheikh Mujibur Rahman, a highly revered and commemorated political leader.

He is often referred to as the Father of the Nation and is still celebrated today for his efforts to make life better and fairer for the Bangladeshi people.

Bangabandhu Sheikh Mujibur Rahman was assassinated in 1975.

The different denominations of taka bills are printed in various vibrant colors, such as purple, pink, green, yellow, blue, and brown.

You can find standalone currency exchange services in major cities, often offering a better taka exchange rate and lower fees.

These brick-and-mortar businesses are a great alternative to other options, but it's essential to check the rates and fees at more than one before converting currency, as there may be a big difference between what various providers offer.

In my experience, taking a few minutes to compare rates can save you a significant amount of money, especially for larger transactions.

You can also visit a Bangladesh bank to exchange USD and other currencies for BDT. The Bangladeshi taka exchange rate tends to be less favorable at banks.

If you're looking for a more secure option, visiting a dealer bank might be the way to go. Some people feel more comfortable exchanging money in a bank compared to standalone currency exchange services.

Keep in mind that the exchange rate at banks might not be as favorable as what you'd find at a standalone currency exchange service.

The Bangladeshi taka is the official currency of Bangladesh, and you'll often see it referred to as code BDT.

You'll notice the "৳" symbol used to write out a value or price, which goes directly before the number with no space. For example, you would write ৳150 to represent 150 Bangladeshi taka.

One taka is made up of 100 poishas, with the singular form being poisha.

The Bangladesh Bank, which is the central bank of Bangladesh, is responsible for issuing most taka bills.

The ৳1 and ৳2 notes are an exception, as they are printed by the Bangladesh Ministry of Finance.

For your interest: Euro to Bangladesh Taka

The taka only existed as a currency after Bangladesh became an independent nation in 1971.

Bangladesh gained independence from Pakistan after a long and violent war, the Bangladesh War of Independence.

Here's a quick breakdown of the Bangladeshi taka's history: