Taka is the basic monetary unit of which country?
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Bangladeshi_taka.txt
Bangladeshi taka
The Bangladeshi taka (, sign:  or Tk, code: BDT) is the official currency of the People's Republic of Bangladesh. Issuance of banknotes 5 and larger is controlled by Bangladesh Bank, and for the 1 and 2 banknotes, which are the responsibility of the Ministry of Finance of the government of Bangladesh. The most commonly used symbol for the taka is "" and "Tk", used on receipts while purchasing goods and services. 1 is subdivided into 100 poisha.

The word taka in Bangla is also commonly used generically to mean any money, currency, or notes. Thus, colloquially, a person speaking Bangla may use "taka" to refer to money regardless of what currency it is denominated in. This is common in the Indian state of West Bengal and Tripura, where the official name of the Indian rupees is "taka" as well.

History

The word taka is derived from the Sanskrit term tangka (ṭaṃka), which was an ancient denomination for silver coins. In the region of Bengal, the term has always been used to refer to currency. In the 14th century, Ibn Battuta noticed that people in the Bengal Sultanate referred to gold and silver coins as taka instead of dinar.

1947–71

After the Partition of Bengal in 1947, In East Bengal which later succeeded being the eastern wing of Pakistan union 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 in West Pakistan). 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 "" 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, so be suspicious of fresh stamps on old notes, bilingual stamps, or stamps on notes with Karachi or Lahore imprints instead of Dhaka. 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. 

Some foreign publications mention that there were rubber stamp "BANGLA DESH" overprints on different denominations of Pakistani bank notes during the a.m. period. It may be mentioned that Pakistani postage stamps were rubber-stamped and used all over Bangladesh until 30 March 1973, but Bangladesh Bank or the Ministry of Finance never issued an order to overprint or rubber-stamp Pakistani currency. It would be interesting to note here, that a counterfeiting gang is active, which uses a "washing system", whereby Tk100 notes are washed with a special kind of liquid, and the numbers are changed to give it the appearance of a Tk500 note. 

Since 1972

Treasury banknotes

* The first treasury notes in  1972 for 1 and notes of the Bangladesh Bank for 5, 10 and 100.
* In 1975, banknotes for 50 were introduced, followed by 500 in 1977 and 20 in 1980.
* 1 treasury notes were issued until 1993, with 2 treasury notes introduced in 1989.

Banknotes and issues

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 are gradually being 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. 

From 2011, the Bangladesh Bank introduced new notes denominated in 10, 20, and 50 on March 7, 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 Gombuk mosque in Bagherat, and the 50 notes feature Shilpacharya Jainul Abedin's famous painting “Ploughing.” 

Commemorative banknotes

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. 

On February 15, 2012, Bangladesh Bank has introduced a 60 note to commemorate "60 years of National Movement". The commemorative note measures 130 x 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. 

On January 26, 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) bird. 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. 

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

Coins

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

1 and 5 poisha coins are rarely found in circulation. 10, 25, and 50 poisha coins do not circulate widely. Only the 1, 2 and 5 are regularly found in circulation.

Banknotes

Rarely used banknotes are 1, 25, 40 and 60, and most frequently used banknotes in circulation are 2, 5, 10, 20, 50, 100, 500 and 1000.

Bangladesh Bank has withdrawn the new 50 note after a spelling mistake of Shilpacharya Zainul Abedin () which was identified on the back of the note. The note had just been introduced on March 7, so it is likely that very few made it into circulation, even though 2.25 crore pieces were printed. 

Exchange rates 

Historic exchange rates 

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 U.S. 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. 

Between 1980 and 1983, the taka sustained a decline of some 50 percent because of a deterioration in Bangladesh's balance of payments. Between 1985 and 1987, the taka was adjusted in frequent incremental steps, stabilizing again around 12 percent lower in real terms against the U.S. 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. 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. In mid-1987, the official rate was relatively stable, approaching less than ৳31 to US$1. In January 2011, USD$1 was equivalent to approximately ৳72, as of 21 April 2012, US$1 was worth close to ৳82, and as of 9 September 2015 US$1 valued ৳77.

Current exchange rates
Bangladeish Bangladesh B'desh Bengaledesh Bangla-Desh Bangledesh Bengaldesh BNGL গনপ্রজাতন্ত্রী বাংলােদশ Gana Praja-tantri Bangladesh Peoples Republic of Bangladesh Gônôprôjatôntri Bangladesh People’s Republic of Bangladesh Bangaladesh Republic of Bangladesh Peoples' Republic of Bangladesh Bdesh People's Republic of Bangladesh Bangladash Bangla Desh ISO 3166-1:BD বাংলাদেশ Bengali Republic Bengladesh Bangladesxo Bangaldesh BANGLADESH Bengali People's Republic B-desh Blangadesh Biodiversity in Bangladesh Gônoprojatontri Bangladesh
gônoprojatontri bangladesh bengladesh peoples republic of bangladesh bengali republic b desh bengaledesh bengaldesh people s republic of bangladesh bangladesh bangla desh bangladash গনপ্রজাতন্ত্রী বাংলােদশ bangaldesh biodiversity in bangladesh বাংলাদেশ iso 3166 1 bd gana praja tantri bangladesh bangladesxo gônôprôjatôntri bangladesh bangladeish bangaladesh bengali people s republic bdesh bngl republic of bangladesh bangledesh blangadesh
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Bangladesh
 Tukka is the basic material of which country. 

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