Currency Information on Bangladesh Taka
Currency Information on Bangladesh Taka - BDT — Bangladeshi Taka - ৳
The Bangladeshi Taka is the official currency of Bangladesh, although “Taka” in Bangla national means money in general and many currencies in the region have the word “taka” included on their notes. A Sanskrit term “tangka” was an ancient denomination of silver coins, and it is believed that the name “taka” derives from this.
One taka is subdivided into 100 poisha and 1, 5, 10 and 50 poisha coins are in circulation, though they are rarely found and less frequently used. Frequently used coins are issued in denominations of 1, 2 and 5 taka, whilst banknotes are available in denominations of 2, 5, 10, 20, 50, 100, 500 and 1,000 taka.
Between 1971 and 1987, the taka’s value declined every year, increasing Bangladesh’s need for assistance, which worsened each year that the government refused, this forced a change in the government’s decision and in 1975, devaluation was announced, decreasing the value of the taka by 50% and initialising the Bangladesh Aid Group, established by the World Bank.