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Bangladeshi taka

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"Taka" redirects here. For the Japanese given name, see Taka (given name). For the Filipino paper mache, see Taka (paper mache). For other uses, see Taka (disambiguation).

Bangladeshi taka
Bangladeshi Taka sign
ISO 4217
CodeBDT (numeric: 050)
Subunit0.01
Unit
Symbol৳‎
Denominations
Subunit
 1⁄100Poisha
(defunct)
Symbol
 Poishap
Banknotes
 Freq. used৳2 (Note: This ৳2 will soon be used as of 2025), ৳5, ৳10, ৳20, ৳50, ৳100, ৳200 and ৳500
 Rarely used৳1, ৳2 and ৳1000
Coins
 Rarely used৳1, ৳2, ৳5
Demographics
Date of introduction4 March 1972; 53 years ago (1972-03-04)
ReplacedPakistani rupee
User(s) Bangladesh
Issuance
Central bankBangladesh Bank
PrinterThe Security Printing Corporation Bangladesh Ltd.
 Websitewww.spcbl.org.bd
MintThe Security Printing Corporation Bangladesh Ltd.
Valuation
Inflation9.41%
 SourceBBS, August 2021[1]
Bengali
This article contains Bengali text. Without proper rendering support, you may see question marks, boxes, or other symbols.

The taka (Bengali: টাকা, IPA: [ˈʈa.kaˑ], sign: ৳, code: BDT, short form: Tk) is the currency of Bangladesh. In Unicode, it is encoded at U+09F3 ৳ BENGALI RUPEE SIGN.

Issuance of banknotes ৳10 and larger is controlled by Bangladesh Bank, while the ৳2 and ৳5 govt. notes are the responsibility of the ministry of finance. The govt. notes of Tk. 2 and Tk.5 have mostly been replaced by coins while lower denomination coins (including all poysha coins) up to Tk. 1 have almost gone out of circulation due to inflation. The most commonly used symbol for the taka is "৳" and "Tk", used on receipts while purchasing goods and services. It is divided into 100 poysha, but poysha coins are no longer in circulation. The poysha is still used for accounting purposes (e.g., Tk 123,456.78 for 123,456 taka and 78 poysha).

On 8 May 2024, the central bank placed the taka in a crawling peg to the US dollar, with a rate of 117 takas per US dollar.[2]

Etymology

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Jalaluddin's tanka (taka), Bengal Sultanate, 15th century

According to The American Heritage Dictionary of the English Language and Banglapedia, the word ṭaka came from the Sanskrit word ṭaṅka, meaning silver coin,[3][4] a Kulturwort of unclear origin, related to Turkic təñkə "coin, money", compare Tatar tanka, Uzbek tanga, Kazakh tenge, Russian denʹga.[5] The word taka in Bangla is also commonly used generically to mean any money, currency, or notes. Thus, colloquially, a person speaking in Bangla may use "taka" to refer to money regardless of what currency it is denominated in. This is also common in the Indian states of West Bengal and Tripura, where the official name of the Indian rupee is "taka" as well. In other eastern Indian languages with the influence of Prakrit in Bihar it is "taka" in Maithili and Magadhi languages, in Assam it is টকা tôka and it is ଟଙ୍କା taṅkā in Odisha.

History

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Further information: History of the taka

1947–1971

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After the Partition of Bengal in 1947, East Bengal became the eastern wing of Pakistan and was renamed to East Pakistan in 1956. The Pakistani rupee also bore the word taka on official notes and coins. Bangla was one of the two national languages of the Pakistan union between 1956 and 1971 (the other being Urdu). The Bangladeshi taka came into existence since 1972, a year after the independence of the eastern wing of the union, as the independent nation of Bangladesh.

Prior to the Liberation war in 1971, banknotes of the State Bank of Pakistan circulated throughout Bangladesh, and continued to be used in Bangladesh even after independence for only about three months until the official introduction of the taka on 4 March 1972. During the war, it was an unofficial practice of some Bengali nationalists to protest Pakistani rule by stamping banknotes with "বাংলা দেশ" and "BANGLA DESH" as two words in either Bangla or English. These locally produced stamps are known to exist in several varieties, as are forgeries. On 8 June 1971, the Pakistani government declared that all banknotes bearing such stamps ceased to be legal tender. Furthermore, to prevent looted high-denomination notes from disrupting the Pakistani economy, the government also withdrew the legal tender status of all 100- and 500-rupee notes.[6]

Since 1972

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On 4 March 1972, the taka replaced the Pakistani rupee at par.

Treasury banknotes

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  • The first treasury notes in 1972 for ৳1 and notes of the Bangladesh Bank for ৳5, ৳10 and ৳100.
  • In 1977, banknotes for ৳50 were introduced, followed by ৳500 in 1979 and ৳20 in 1982.
  • ৳1 treasury notes were issued until 1992, with ৳2 treasury notes introduced in 1989.
  • ৳1000 banknotes were introduced in 2008.
  • ৳5 banknotes, previously issued by Bangladesh Bank, are now issued by the Government of Bangladesh. These have mostly been replaced by coins since the early 2000s.

Banknotes and issues

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In 2000, the government issued polymer ৳10 notes as an experiment (similar to the Australian dollar). They proved unpopular, however, and were withdrawn later. At present, the ৳1 and ৳5 notes have mostly been replaced with coins, and in 2008, the government issued ৳1,000 notes.

In 2011, Bangladesh Bank began issuing a new series of banknotes denominated in ৳2, ৳5, ৳100, ৳500, and ৳1000. All are dated 2011 and feature a portrait and watermark of the Father of the Nation, Bangabandhu Sheikh Mujibur Rahman, along the National Martyr's Monument in Savar at center front.[7]

From 2011, the Bangladesh Bank introduced new notes denominated in ৳10, ৳20, and ৳50 on 7 March 2012. The notes bear the portrait of Bangabandhu Sheikh Mujibur Rahman and the National Martyr's Monument in Savar on the front. On the back of the notes, the ৳10 will picture the Baitul Mukarram mosque, the ৳20 pictures the Shat Gombuj mosque in Bagherat, and the ৳50 notes feature Shilpacharjo Zainul Abedin's famous painting Ploughing.[8]

On 7 March 2019, Bangladesh Bank released new ৳100 notes, which had the same design as 2011 Version, but had better security, a stronger Blue and were made of a different material.

On 15 December 2019, Bangladesh Bank issued new ৳50 banknotes, with the same design as the 2011 version, but had a different colour (orange, brown and fluorescent yellow-green), and a slightly different design in some parts.

On 17 March 2020, Bangladesh Bank introduced new ৳200 notes. They bear a portrait of Bangabandhu Sheikh Mujibur Rahman on both sides and a landscape picture of a village, river and boats.

Commemorative banknotes

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In 2011, Bangladesh Bank also introduced a ৳40 note to commemorate the "40th Victory Anniversary of Bangladesh". The commemorative note features a portrait of the Father of the Nation, Bangabandhu Sheikh Mujibur Rahman and the National Martyr's Monument in Savar on front, and six armed men on back. Curiously, this note has an electrotype 10 in the watermark, indicating it was likely printed on extra ৳10 banknote paper.[9]

On 15 February 2012, Bangladesh Bank has introduced a ৳60 note to commemorate "60 years of National Movement". The commemorative note measures 130 by 60 millimetres (5.1 in × 2.4 in) and features the Shaeed Minar (Martyrs' monument) in Dhaka and five men on the back. Like the ৳40 commemorative note, this note has an electrotype 50 in the watermark. It was likely printed on extra ৳50 banknote paper.[10]

On 26 January 2013, Bangladesh Bank issued a ৳25 note to commemorate the 25th anniversary (silver jubilee) of the Security Printing Corporation (Bangladesh) Ltd. On the front is the National Martyr's Monument in Savar, the designs of the previous series of the Bangladeshi taka notes and its postage stamps, three spotted deer and the magpie-robin (doyel). On the reverse is the headquarters of the Security Printing Corporation. Curiously, this note has an electrotype 10 in the watermark, indicating it was likely printed on extra ৳10 banknote paper.[11]

On 8 July 2013, Bangladesh Bank issued a ৳100 note to commemorate the 100th anniversary of the Bangladesh National Museum. The commemorative note features an 18th-century terracotta plaque of a horseman on the front and the Bangladesh National Museum on the back.[12]

Coins

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50 poysha from 1984 (left) and 25 poysha from 1980 (right).

In 1973, coins were introduced in denominations of 5, 10, 25 and 50 poysha. 1 poysha coins followed in 1974, with ৳1 coins introduced in 1975. The 1, 5 and 10 poysha were struck in aluminium, with the 25 and 50 poysha struck in steel and the ৳1 in copper-nickel. The 5 poysha were square with rounded corners, and the 10 poysha were scalloped. Steel ৳5 were introduced in 1994, and a steel ৳2 coin followed in 2004.

1 and 5 poysha coins are rarely found in circulation. The same is the case with the 10, 25, and 50 poysha coins, as they have lost value due to inflation over the years. Only the ৳1, ৳2 and ৳5 are occasionally found in circulation. Unlike most other countries, coins are not issued every year. The most recent coins, ৳1, ৳2 and ৳5, were issued in 2013.

1973 Series
Value Composition Description First Minted
Reverse Obverse
5 poysha Aluminium National emblem A plough inside of a cogwheel engraved diagonally, "5-Five Poisha" and "Bangladesh" written in Bangla. 1973
10 poysha Scalloped with serrated edges, a betel leaf in the middle with "Bangladesh" written on top and "Ten 10 poisha" written on the bottom in Bangla.
25 poysha Steel Curly pattern on the edges with a Rohu fish in the middle, "Bangladesh" written on top and "Twenty-five 25 poisha" written at the bottom in Bangla.
50 poysha Dotted pattern on the edges with a dove/pigeon in the middle, "Bangladesh" written on the top and "Fifty 50 poisha" written at the bottom in Bangla.
1974 Series (FAO)
1 poysha Aluminium National emblem Ornamental design, floral patterns 1974
5 poysha A plough in the middle of a half-cogwheel saying the words "Increase production"
10 poysha Serrated on scalloped edges, with flowers plants and running tractor with text saying "Green Revolution"
25 poysha Steel Fish, egg, bananas and a gourd with the text "Food for all"
50 poysha Various Fish, banana, chicken and pineapple in the middle circle 1977
1977 Series (FAO)
5 poysha Aluminium National emblem Plough and cogwheel 1977
10 poysha A family sitting facing each other
25 poysha Steel Royal Bengal tiger
50 poysha Hilsha fish, chicken, pineapple, banana
Other Issues
50 poysha (small) Steel National emblem Hilsha fish, chicken, pineapple, banana 2001
৳1 (Line-edged) A family figure, slogan "Planned family – Food for All" 2002
৳1 (Silver Jubilee Edition) Brass A family figure, slogan "Planned family – Food for All" 1996
৳2 Steel Education for All slogan with two children studying 2004
৳5 Jamuna Multipurpose Bridge 1994
Last Issues
৳1 Steel National Emblem Sheikh Mujibur Rahman 2010
৳2 Sheikh Mujibur Rahman 2010
৳5 Bangladesh Bank logo 2012
Special Issues (Uncirculated)
৳1 (Martyr's Edition) Silver Picture of the National Martyrs' Memorial and text which says "20th Victory Day of Bangladesh–1991" A picture of the Bir Sreshtho with words "16th December–20th Victory Day" 1991
৳1 (Summer Olympics Edition) Silver National Emblem Two athletes running with a fire torch with text "25th Olympic Games 1992" 1992
৳1 Silver National Emblem Two spotted deer with the heading "Endangered Wildlife" 1993
৳10 (Silver Jubilee of BB) Silver National Emblem Picture of Bangladesh Bank with the title "Bangladesh Bank Silver Jubilee 1971–1996" 1996
৳10 (Silver Jubilee of BD) Silver National Martyrs' Memorial with the text "Silver Jubilee of Bangladesh's Victory" Sheikh Mujibur Rahman with the same text on the coin's back 1996
৳10 (Bangabandhu Bridge Edition) 90% Silver and 10% Nickel Martyr Statue with the title "Invincible Bangla" and heading "Inauguration of Bangabandhu Bridge 1998" Picture of Bangabandhu Bridge with the same heading on the coin's reverse 1998
৳20 (Bangabandhu Bridge Edition) Silver Sheikh Mujibur Rahman with the heading "Inauguration of Bangabandhu Bridge 1998" Picture of Bangabandhu Bridge with the same heading in the coin's reverse 1998
৳20 (IMD Edition) Gold Shaheed Minar with the date 21 February with heading International Mother Language Day Logo of Bangladesh Bank 2000
৳10 (World Cup Edition) Silver The picture of the World cup with "Bangladesh Bank" written ICC World Cup Logo with being held in Bangladesh in 2011 2011
৳10 (Rabindranath Edition) Silver A poem of Rabindranath Tagore and his autograph Picture of Rabindranath Tagore with the title "150th Birth Anniversary of Rabindranath Tagore" 2011
৳10 (Bidrohi Edition) Silver A quotation from the poem Bidrohi and the autograph of the National Poet Picture of young Kazi Nazrul Islam with the heading "90 Years of the poem Bidrohi 1921-2011" 2011
৳10 (Victory Edition) Silver Picture of 6 Muktijoddha waving guns with the title "40th Victory Anniversary of Bangladesh" Picture of Sheikh Mujibur Rahman with the 7th March Speech quote with his name in English at the bottom 2011
৳100 (Museum Edition) Silver Logo of Bangladesh Bank with Bangla writing "Centenary of Bangladesh National Museum 1913–2013" 100 taka written on left and right with a terracotta plaque of 18th century horsemen 2013
৳100 (Mujib Centennial Edition) Gold and Silver (dual variant) Logo of Bangladesh Bank with text "Father of the Nation Bangabandhu Sheikh Mujibur Rahman" Portrait of Sheikh Mujibur Rahman with the text in Bangla 2020
৳50 (Golden Jubilee Edition) Scallop-shaped in Gold Big number "50" which has the logo of Bangladesh Bank inscribed in the number "0" with the heading "Golden Jubilee of Independence" Portrait of Sheikh Mujibur Rahman with the heading in Bangla 2021
৳50 (Japan-Bangladesh Relations Edition) Silver National Martyrs' Memorial with the heading "Bangladesh-Japan Diplomatic Relations 50th Year Anniversary" The same heading written in the middle with a logo and pictures of a cherry blossom on top and a water lily at the bottom 2022
৳100 (Padma Bridge Edition) Scallop-shaped, silver Picture of the Padma Bridge with the title "Padma Bridge–The symbol of National Pride" written in English Portrait of Sheikh Mujibur Rahman with the title in Bangla 2023
**Poisha coins no longer minted since 2013 but all coins above 1 taka still legal tender.

Banknotes

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Main article: Banknotes of the Bangladeshi taka

There had been eleven series of taka banknotes since the issuance of the first series in 1972. Banknotes generally feature the heritage sites (mostly mosques), national monuments and portrayals of the village life, agriculture, industry and animals of the country. Apart from this, the portrait of Bangabandhu Sheikh Mujibur Rahman, the founding president of Bangladesh, was featured in the observe in the series issued under the Awami League governments.

Latest series

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Following the fall of Awami League in the July Revolution in 2024, the Bangladesh Bank announced plans to redesign Taka banknotes by 2025. The central bank's Currency and Design Advisory Committee, made up of nine members was selected to submit theme proposals to the Ministry of Finance.[13][14][15] Sheikh Mujib's portrait was removed and graffiti of the July Revolution was added in this series.

Eleventh Series
Image Value Main Color Description First Issue
Obverse Reverse Obverse Reverse
৳2 Light Green Martyred Intellectuals Memorial, Mirpur Martyred Intellectuals Memorial, Rayer Bazar 2 June 2025[16]
৳5 Pink Star Mosque Graffiti of the July Revolution 2 June 2025[16]
৳10 Pink Baitul Mukarram National Mosque Graffiti of the July Revolution 2 June 2025[16]
৳20 Cyan Kantajew Temple Somapura Mahavihara 1 June 2025 [17]
৳50 Deep Brown Ahsan Manzil The Struggle by Zainul Abedin 1 June 2025 [18]
৳100 Sky Blue Sixty Dome Mosque The Sundarbans 2 June 2025[16]
৳200 Golden Yellow Aparajeyo Bangla Graffiti of the July Revolution 2 June 2025[16]
৳500 Olive Green Central Shaheed Minar Bangladesh Supreme Court 1 June 2025[16]
৳1000 Violet National Martyrs' Memorial Jatiya Sangsad Bhaban 1 June 2025 [19]

Exchange rates

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Historic exchange rates

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Upon Bangladesh's independence, the value of the Bangladeshi taka was set between ৳7.5 and ৳8.0 to US$1. Except for fiscal year 1978, the taka's value relative to the US dollar declined every year from 1971 through the end of 1987. To help offset this phenomenon, Bangladesh first used the compensatory financing facility of the International Monetary Fund in fiscal year 1974. Despite the increasing need for assistance, the Mujib government was initially unwilling to meet the IMF's conditions on monetary and fiscal policy. By fiscal year 1975, however, the government revised its stance, declaring a devaluation of the taka by 56 percent and agreeing to establishing the Bangladesh Aid Group by the World Bank.[20]

Between 1980 and 1983, the taka sustained a decline of some 50 percent because of a deterioration in Bangladesh's balance of payments.[20] Between 1985 and 1987, the taka was adjusted in frequent incremental steps, stabilising again around 12 percent lower in real terms against the US dollar, but at the same time narrowing the difference between the official rate and the preferential secondary rate from 15 percent to 7.5 percent.[20] Accompanying this structural adjustment was an expansion in trade conducted at the secondary rate, to 53 percent of total exports and 28 percent of total imports.[20] In mid-1987, the official rate was relatively stable, approaching less than ৳31 to US$1.[20] In January 2011, US$1 was equivalent to approximately ৳72,[21] as of 21 April 2012, US$1 was worth close to ৳82, and as of 9 September 2015 US$1 valued ৳77.[citation needed]

Bangladeshi taka per currency unit averaged over the year (January of every year)
Currency ISO code 1971 1981 1991 1996 2000 2001 2005 2007 2008 2009 2010 2011 2012 2013 2014 2015 2024(Aug)
U.S. dollar USD 7.86 18.31 36.75 40.8 50.82 53.84 58.11 67.29 67.34 67.40 68.11 69.84 81.64 78.31 76.45 78.85 117.52
Japanese yen JPY 0.02 0.09 0.27 0.38 0.48 0.46 0.56 0.55 0.62 0.74 0.74 0.84 1.06 0.88 0.73 0.64 0.80
Soviet ruble (until 1993)
Russian ruble (1993 – present)		 SUR
RUB		 14.93 29.00 55.12 8.16 1.85 1.91 2.17 2.62 2.79 2.14 2.31 2.35 2.66 2.63 2.29 1.20 1.30
Euro EUR – – – – 51.48 50.57 76.37 87.45 98.99 90.01 97.28 93.26 105.26 103.98 104.22 89.26 128.41
Pound sterling GBP 18.92 44.02 71.01 62.48 83.23 79.59 109.35 131.74 132.6 97.66 110.01 110.04 126.57 125.19 125.90 116.13 150.08
Swiss franc CHF 1.8 10.08 28.89 34.63 31.97 33.07 49.38 53.73 60.99 60.23 65.87 73.1 86.91 84.7 84.66 81.26 135.28
Hong Kong dollar HKD 1.31 3.53 4.68 5.28 6.53 6.9 7.45 8.62 8.62 8.69 8.77 8.97 10.51 10.1 9.85 9.86 15.08
Malaysian ringgit MYR 2.55 8.23 13.54 15.97 13.37 14.16 15.25 19.12 20.54 18.86 20.06 22.71 26.14 25.68 23.14 21.41 26.37
Kuwaiti dinar KWD 22.09 64.51 128.73 136.25 167.01 176.05 197.82 231.69 245.83 235.31 236.52 247.62 292.46 277.6 270.16 259.66 383.78
Saudi riyal SAR 1.75 5.5 9.79 10.88 13.55 14.35 15.49 17.93 17.92 17.95 18.14 18.6 21.76 20.87 20.38 20.36 31.31
Emirate dirham AED 1.65 4.89 9.96 11.11 13.84 14.65 15.82 18.31 18.33 18.34 18.54 19.01 22.22 21.31 20.81 20.82 32

See also

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References

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  1. ^ "Inflation". Bangladesh Bank. Archived from the original on 8 February 2022.
  2. ^ Devnath, Arun (8 May 2024). "Bangladesh Introduces Crawling Peg for Taka as Rates Raised". Bloomberg. Archived from the original on 9 May 2024. Retrieved 9 May 2024 – via Financial Post.
  3. ^ "taka". The American Heritage Dictionary of the English Language (5th ed.). HarperCollins Publishers. 2022. Archived from the original on 31 March 2022. Retrieved 25 February 2022.
  4. ^ "Taka". Banglapedia. Archived from the original on 16 January 2020. Retrieved 5 January 2020.
  5. ^ https://archive.org/details/etymologisches-worterbuch-des-altindoarischen-bd-3/page/220/mode/2up
  6. ^ Linzmayer, Owen (2012). "Bangladesh". The Banknote Book. Archived from the original on 29 August 2012. Retrieved 27 April 2012.
  7. ^ "Bangladesh new note family confirmed". banknotenews.com. Archived from the original on 17 September 2011. Retrieved 6 September 2011.
  8. ^ "Bangladesh new 10-, 20-, and 50-taka notes confirmed". banknotenews.com. Archived from the original on 6 October 2012. Retrieved 28 February 2012.
  9. ^ "Bangladesh new 40-taka commemorative confirmed". banknotenews.com. Archived from the original on 7 April 2012. Retrieved 25 January 2012.
  10. ^ "Bangladesh new 60-taka commemorative note confirmed". banknotenews.com. Archived from the original on 21 February 2012. Retrieved 16 February 2012.
  11. ^ "Bangladesh new 25-taka commemorative note confirmed". banknotenews.com. Archived from the original on 10 August 2013. Retrieved 1 March 2013.
  12. ^ "Bangladesh new 100-taka commemorative note confirmed". banknotenews.com. Archived from the original on 9 August 2013. Retrieved 24 March 2013.
  13. ^ https://businesspostbd.com/national/govt-to-redesign-taka-remove-sheikh-mujibs-image
  14. ^ https://www.tbsnews.net/bangladesh/banknotes-redesign-likely-without-image-bangabandhu-958491
  15. ^ https://www.dhakatribune.com/bangladesh/360895/government-plans-major-redesign-of-taka-notes
  16. ^ a b c d e f "BB unveils six redesigned banknotes". Dhaka Tribune. Retrieved 2 June 2025.
  17. ^ "New notes featuring historic, archaeological structures of Bangladesh to be circulated from 1 June". The Business Standard. 29 May 2025.
  18. ^ "New notes featuring historic, archaeological structures of Bangladesh to be circulated from 1 June". The Business Standard. 29 May 2025.
  19. ^ "New notes featuring historic, archaeological structures of Bangladesh to be circulated from 1 June". The Business Standard. 29 May 2025.
  20. ^ a b c d e Lesser, Lawrence B. (1989). "Money and Banking". In Heitzman, James; Worden, Robert (eds.). Bangladesh: A Country Study. Washington, D.C.: Federal Research Division, Library of Congress. pp. 108–109. Archived from the original on 22 June 2011. Retrieved 26 August 2016.
  21. ^ "Historical Exchange Rates". OANDA. Archived from the original on 2 February 2011. Retrieved 3 January 2011.
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