taka

The taka is the currency of Bangladesh, abbreviated as BDT and commonly written with the symbol ৳. It is issued by the central bank, Bangladesh Bank, and is subdivided into 100 paisa. The taka is used for all financial transactions within Bangladesh, with banknotes and coins circulating in various denominations.

The currency has been the official monetary unit of Bangladesh since independence. In 1972, the government introduced the taka, replacing the Pakistan rupee in East Pakistan. Since then, Bangladesh Bank has issued successive series of banknotes and coins to meet changing economic needs and to incorporate improved security features.

Banknotes depict national symbols, landmarks, and prominent figures, reflecting the country’s heritage and aspirations. Coins, issued in several denominations, are produced to facilitate everyday transactions and to complement the notes. The central bank periodically releases new notes and coins to counter counterfeiting and to meet monetary and economic goals.

The taka operates within a broader foreign exchange framework and is not freely convertible on international markets. It is primarily traded within Bangladesh under the regulations and controls administered by the government and Bangladesh Bank, with exchange rates influenced by market conditions, government policy, and international trade.

Etymology-wise, the name taka corresponds to the Bengali word for money, a term commonly used in everyday speech as well as in the formal designation of the currency.