Bangladeshi taka বাংলাদেশী টাকা (Bengali)
[[Image:|90px|1 taka coin]] 5 taka coin
ISO 4217 Code	BDT
User(s)	Bangladesh
Inflation	7.2%
Source	The World Factbook, 2006 est.
Subunit
1/100	poisha
Symbol	৳, ৲
Coins
Freq. used	1, 2, 5 taka
Rarely used	1, 5, 10, 25, 50 poisha
Banknotes	1, 2, 5, 10, 20, 50, 100, 500 taka
Central bank	Bangladesh Bank
Website	www.bangladesh-bank.org

The taka (Bengali: টাকা ṭaka) is the currency of Bangladesh. It has the ISO 4217 code BDT and is subdivided into 100 poisha (Bengali: পয়সা pôesha). The symbols ৳, ৲ and (in English) Tk are used to represent taka. For example, ৳৫০, ৳50 or Tk 50 would represent 50 taka.

History

The taka became Bangladesh's currency in 1972, replacing the Pakistani rupee at par. The word "taka" is derived from the Sanskrit 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 the rupee. In all areas of India, taka was used informally for money in general. However, Bengal was the stronghold of the taka.

The rupee was introduced by the Turko-Afghan rulers and was strongly upheld by the Mughals and the British rulers. The Bengali 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 called it taka. This tradition has been followed to this day in eastern regions like Bangladesh, West Bengal, Tripura, Orissa, and Assam. The Indian rupee is officially known as টাকা ṭaka in Bengali, টকা tôka in Assamese, and ଟଙ୍କା ṭôngka in Oriya, and is written as such on Indian banknotes.

Coins

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 cupro-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.

1973 Series
Image		Value	Composition	Description		Date of first minting
Reverse	Obverse			Obverse	Reverse
		5 poisha	Aluminium	National emblem		1973
		10 poisha
		25 poisha	Steel		Rohu
		50 poisha
1974 Series (FAO)
		1 poisha	Aluminium	National emblem	Ornamental design, floral patterns	1974
		5 poisha
		10 poisha
		25 poisha	Steel
		1 taka	Various		Four human figures, slogan "Planned family - Food for All"	1975
1977 Series (FAO)
		5 poisha	Aluminium	National emblem	Plough, Industrial wheel	1977
		10 poisha			A man and a woman seated on 2 back steeds facing each other
		25 poisha	Steel		Royal Bengal Tiger
		50 poisha			Hilsha fish, Chicken, Pineapple, Banana
Newer Issues
		2 taka	Steel	National emblem	Education	2004
		5 taka			Jamuna Multipurpose Bridge	1994

Paper money

In 1971, Pakistani notes for 1, 5 and 10 rupees were overstamped for use in Bangladesh. 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 the year 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.

See also

• Economy of Bangladesh

References

External links

• Don's World Coin Gallery - Bangladesh
• Ron Wise's World Paper Money - Bangladesh ^{Mirror site}
• Tables of Modern Monetary Systems by Kurt Schuler - Asia ^{Mirror site}
• The Global History of Currencies - Bangladesh
• Global Financial Data currency histories table ( Microsoft Excel format)
• Bangladesh Bank's page on currencies in circulation

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