Taka is the official national currency in the state of Bangladesh. In accordance with the international standard, it is assigned the code 4217 BDT. The currency of Bangladesh consists of one hundred paise, which are the local bargaining chip. The common currency in English is the combination of the characters Tk.
origin of name
The Bangladeshi currency received the official status in 1972. In this field, she replaced the Pakistani rupee. A few words should be said about the origin of the name of the Bangladeshi currency. The name "taka" originates from the Sanskrit term "tank", which in ancient times called coins made of silver. In addition, the word "taka" is often used in various regions of India. True, the term had several meanings at once.
For example, in the northern part of the country the so-called copper coin, which was equivalent to two paise. In turn, one paisa equaled a quarter of anna. In southern India, taka corresponded to four paisa or one annu. At the same time, in Bengal and Orissa, this currency was equivalent to one rupee. By the way, it will be said that in all Indian regions such was unofficially used in monetary circulation. But the main territory of circulation of the unit was still Bengal. The exchange rate of Bangladesh in the exchange of population and institutions was one to one.
Currency History
An interesting historical fact is the fact that after the introduction of the rupees by the Turkish-Afghan rulers, and despite the active support of this currency by the Mughals and British representatives, the people of Bangladesh still used the name "taka". Moreover, so-called not only ordinary coins, but also silver and gold. The famous Arab traveler Ibn Battuta noted that the Bengalis called the golden dinars of the “golden tank”. Accordingly, they called silver coins “silver tank”. In other words, regardless of the metal from which the coins were made, the people called them “taka”. In the eastern regions of Bangladesh, West Bengal, Orissa, Assam and Tripura, this habit has taken hold, and even today, centuries later, remains relevant.
Bangladeshi coins
In 1973, modern Bangladeshi coins in denominations of five, ten, twenty five and fifty pishas were put into circulation. A year later, the currency of Bangladesh with a denomination of one pishu appeared in circulation. In 1975, the government introduced one metal taka. By the way, it will be emphasized that coins of one, five, and ten denominations were made of aluminum, but twenty-five and fifty were steel. One metal taka was made using a copper-nickel alloy. An interesting fact is that five pishas were square in shape with rounded corners, and ten were serrated. In 1994, a steel coin of five taka was issued, and in 2004 two taka of the same metal.
It should be noted that today in circulation most often you can find coins in one, two and five taka. At the same time, one, five, ten, twenty five and fifty pishas are quite rare specimens and are practically not used in circulation.
Bangladesh paper money
In 1971, Bangladesh began to use specially issued Pakistani rupees in denominations of one, five and ten units. A year later, their own paper money of one, five, ten, and one hundred taka denominations was already put into circulation. At the same time, the first were issued by the Treasury, and all the rest by the Bangladeshi Bank. In 1975, the world saw the currency of Bangladesh in denominations of fifty taka, two years later - five hundred taka, and in 1980 twenty taka bills were put into circulation. Treasury notes with a face value of one monetary unit were printed until 1984, and five years later, two tickets appeared.
In 2000, the Bangladeshi government embarked on a bold experiment and issued plastic banknotes, drawing on Australia's experience. Ten bills of denomination of ten taka were put into circulation. However, this currency of Bangladesh did not gain wide popularity among the population, and over time, such banknotes had to be withdrawn from circulation.
In conclusion, it should be noted that now there is a tendency to gradually change paper notes in denominations of one and five such metal coins. Our tourists will be interested to know how the currency of Bangladesh is quoted. The exchange rate to the ruble of the local currency is: 1 BDT = 0.79 RUB.