Bangladeshi taka

The Taka is the official currency of Bangladesh. Also, in neighboring India, speakers of Bengali and Assamese use the term taka to refer to the Indian Rupee. In Bangladesh, the symbol (or Tk, in English) is used to represent taka; for example, , 50 or Tk 50 would represent 50 taka. It is subdivided into 100 paise (sometimes spelled poisha)

Bangladeshi taka coins

History

The word is derived from the Sanskrit tanka which was an ancient, even in medieval times, 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 where taka was equal to the rupee. In all areas of India, taka was used informally for money in general. But Bengal was the stronghold of taka.

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 Batuta 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 Assamese and Bengali speaking regions like Bangladesh, West Bengal and Assam.

The taka became Bangladesh's currency in 1972, replacing the Pakistani rupee at par.

Denominations

Coins

1 poisha (rarely circulated)
5 poisha (rarely circulated)
10 poisha (rarely circulated)
25 poisha(rarely circulated)
50 poisha(rarely circulated)
1 taka
2 taka
5 taka

Treasurynotes

1 taka
2 taka

Banknotes

2 taka
5 taka
10 taka
20 taka
50 taka
100 taka
500 taka

In the late 90's, 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 They proved unpopular, however, and were withdrawn later.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 notes are gradually being replaced with coins.

Issuance

The 1 and 2 taka notes are issued by the Government of Bangladesh. The rest of the notes are issued by Bangladeshs central bank, the Bangladesh Bank.

External links

Bangladesh Bank's page on coins

Economy of Bangladesh