Bangladeshi taka: Difference between revisions

Bangladeshi taka
Symbol	৳

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The Bangladeshi taka (Bengali: বাংলাদেশি টাকা, symbol: ৳, code: BDT) is the official currency of Bangladesh. It is subdivided into 100 units called poisha. The currency is issued and regulated by the Bangladesh Bank, the central bank of the country.^[1]

History

The Bangladeshi taka was introduced on 4 March 1972, replacing the Pakistani rupee at par after the independence of Bangladesh in 1971.^[2] The name taka is derived from the Sanskrit term tankah, which referred to ancient silver coins used in the Bengal region.

Early Notes and Coins

The first series of banknotes was issued in denominations of 1, 5, 10, and 100 taka. Coins were introduced in denominations of 1, 5, 10, 25, and 50 poisha.^[3]

Design

The taka banknotes feature notable figures and landmarks of Bangladesh:

Portraits of Sheikh Mujibur Rahman, the founding leader of Bangladesh.
National landmarks such as the Shaheed Minar and the Jatiyo Sangsad Bhaban.^[4]

Coins depict the country's emblem and national symbols, including the water lily and the Padma Bridge.

Denominations

Banknotes

Currently circulated banknotes are in the following denominations:

৳2, ৳5, ৳10, ৳20, ৳50, ৳100, ৳500, and ৳1000.^[5]

Coins

Coins are issued in denominations of:

1, 2, and 5 taka.
Smaller denominations: 1, 5, 10, 25, and 50 poisha, though they are less commonly used.^[6]

Exchange Rates

The exchange rate of the Bangladeshi taka is determined by a managed floating system. As of 2024, 1 US dollar is approximately 110 BDT, though rates fluctuate depending on market conditions.^[7]

Economy

The taka is used for all economic transactions in Bangladesh. Major industries, including textiles, agriculture, and remittances, contribute significantly to the currency's stability.^[8]

Security Features

The taka banknotes have advanced security features to prevent counterfeiting:

Micro-printing and watermarks.
Optically variable ink.
Security threads.^[9]

References

External links

[1] "Bangladeshi Taka". https://www.bb.org.bd/.

[2] "History of Bangladeshi Currency". https://www.britannica.com/topic/taka.

[3] "Early Currency Notes and Coins". https://www.bangladeshbank.org.bd/currency/notes/.

[4] "Design of Bangladeshi Taka". https://www.bb.org.bd/notes_coins/.

[5] "Current Banknotes". https://www.bb.org.bd/currency/current_notes/.

[6] "Coins of Bangladesh". https://www.britannica.com/topic/taka.

[7] "Bangladeshi Taka Exchange Rates". https://www.xe.com/currency/bdt-bangladeshi-taka.

[8] "Economy of Bangladesh and the Role of Taka". https://www.worldbank.org/en/country/bangladesh.

[9] "Security Features of Taka". https://www.bb.org.bd/notes_coins/security_features.

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-[[File:Taka (Bengali letter).svg|thumb|Symbol of Bangladeshi taka]]
+{{Short description|Currency of Bangladesh}}{{Infobox currency|name=Bangladeshi taka|image1=100 taka banknote of Bangladesh.png|image_title1=100 Bangladeshi taka banknote|image2=Bangladeshi taka coins.png|image_title2=Coins of Bangladeshi taka|iso_code=BDT|iso_number=050|iso_exponent=2|symbol=৳|subunit_name_1=[[Poisha]]|subunit_ratio_1=1/100|used_coins=1, 2, 5 taka; 1, 5, 10, 25, 50 poisha|used_banknotes=2, 5, 10, 20, 50, 100, 500, 1000 taka|issuing_authority=[[Bangladesh Bank]]|issuing_authority_website=[https://www.bb.org.bd Bangladesh Bank]}}
-'''The Bangladeshi Taka''' (৳) is the official currency of [[Bangladesh]]. It is abbreviated as BDT. The [[Bangladesh Bank]], the country's central bank, issued and regulated the Taka. The currency is used in all financial transactions within Bangladesh, and its symbol is derived from the [[Bengali|Bengali script]] for the word "Taka."
+The '''Bangladeshi taka''' ({{lang-bn|বাংলাদেশি টাকা}}, symbol: ৳, code: BDT) is the official currency of [[Bangladesh]]. It is subdivided into 100 units called '''poisha'''. The currency is issued and regulated by the [[Bangladesh Bank]], the central bank of the country.<ref>{{cite web|title=Bangladeshi Taka|url=https://www.bb.org.bd/|access-date=December 15, 2024}}</ref>
-== Key features of the Bangladeshi Taka include: ==
+== History ==
+The Bangladeshi taka was introduced on 4 March 1972, replacing the [[Pakistani rupee]] at par after the independence of Bangladesh in 1971.<ref>{{cite web|title=History of Bangladeshi Currency|url=https://www.britannica.com/topic/taka|access-date=December 15, 2024}}</ref> The name ''taka'' is derived from the Sanskrit term ''tankah'', which referred to ancient silver coins used in the Bengal region.
-* '''Denominations:''' The Taka is subdivided into 100 poisha. However, due to inflation and the decreasing value of poisha, it is becoming less common in everyday transactions.
+=== Early Notes and Coins ===
-* '''Banknotes and Coins:''' The currency is available in various denominations of banknotes and coins. Commonly used banknotes include ''৳1, ৳2, ৳5, ৳10, ৳20, ৳50, ৳100, ৳500, and ৳1000''. Coins are also available in smaller denominations.
+The first series of banknotes was issued in denominations of 1, 5, 10, and 100 taka. Coins were introduced in denominations of 1, 5, 10, 25, and 50 poisha.<ref>{{cite web|title=Early Currency Notes and Coins|url=https://www.bangladeshbank.org.bd/currency/notes/|access-date=December 15, 2024}}</ref>
-* '''Security Features:''' To prevent counterfeiting, Bangladeshi banknotes incorporate several security features, such as watermarks, holographic strips, and security threads.
-* '''Design and Symbolism:''' The design of Bangladeshi currency often features images that reflect the country's rich cultural heritage, historical landmarks, and prominent figures. The national emblem, the [[Shaheed Minar, Dhaka|Shaheed Minar]] (Martyrs' Monument), and the images of notable personalities can be found on various banknotes.
-* '''Exchange Rate:''' The exchange rate of the Bangladeshi Taka against other currencies fluctuates based on economic factors, trade balances, and global market conditions. The Bangladesh Bank actively manages the exchange rate to ensure stability.
+== Design ==
-* '''International Trade:''' While the Taka is primarily used within Bangladesh, it may also be accepted in some border regions of neighbouring countries. However, foreign currencies such as the US Dollar or Euro are more commonly used for international trade and transactions.
+The taka banknotes feature notable figures and landmarks of Bangladesh:
-* '''Inflation:''' Like many other countries, Bangladesh has experienced inflation over the years, impacting the value of its currency—the Bangladesh Bank endeavours to implement monetary policies that aim to control inflation and stabilize the Taka.
+* Portraits of [[Sheikh Mujibur Rahman]], the founding leader of Bangladesh.
-* '''Remittances:''' Bangladesh receives significant remittances from its citizens working abroad. These remittances play a crucial role in the country's economy and contribute to the stability of the Taka.
+* National landmarks such as the [[Shaheed Minar]] and the [[Jatiyo Sangsad Bhaban]].<ref>{{cite web|title=Design of Bangladeshi Taka|url=https://www.bb.org.bd/notes_coins/|access-date=December 15, 2024}}</ref>
-[[Category:Money]]
+Coins depict the country's emblem and national symbols, including the [[water lily]] and the [[Padma Bridge]].
-[[Category:Bangladesh]]
+== Denominations ==
+=== Banknotes ===
+Currently circulated banknotes are in the following denominations:
+* ৳2, ৳5, ৳10, ৳20, ৳50, ৳100, ৳500, and ৳1000.<ref>{{cite web|title=Current Banknotes|url=https://www.bb.org.bd/currency/current_notes/|access-date=December 15, 2024}}</ref>
+=== Coins ===
+Coins are issued in denominations of:
+* 1, 2, and 5 taka.
+* Smaller denominations: 1, 5, 10, 25, and 50 poisha, though they are less commonly used.<ref>{{cite web|title=Coins of Bangladesh|url=https://www.britannica.com/topic/taka|access-date=December 15, 2024}}</ref>
+== Exchange Rates ==
+The exchange rate of the Bangladeshi taka is determined by a managed floating system. As of 2024, 1 US dollar is approximately 110 BDT, though rates fluctuate depending on market conditions.<ref>{{cite web|title=Bangladeshi Taka Exchange Rates|url=https://www.xe.com/currency/bdt-bangladeshi-taka|access-date=December 15, 2024}}</ref>
+== Economy ==
+The taka is used for all economic transactions in Bangladesh. Major industries, including textiles, agriculture, and remittances, contribute significantly to the currency's stability.<ref>{{cite web|title=Economy of Bangladesh and the Role of Taka|url=https://www.worldbank.org/en/country/bangladesh|access-date=December 15, 2024}}</ref>
+== Security Features ==
+The taka banknotes have advanced security features to prevent counterfeiting:
+* Micro-printing and watermarks.
+* Optically variable ink.
+* Security threads.<ref>{{cite web|title=Security Features of Taka|url=https://www.bb.org.bd/notes_coins/security_features|access-date=December 15, 2024}}</ref>
+== See also ==
+* [[Economy of Bangladesh]]
+* [[Bangladesh Bank]]
+* [[Pakistani rupee]]
+== References ==
+{{Reflist}}
+[[bn:বাংলাদেশি টাকা]]
+== External links ==
+* [https://www.bb.org.bd Bangladesh Bank – Official Website]
+* [https://www.britannica.com/topic/taka Britannica – Bangladeshi Taka]