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Bangladeshi Taka ৳

The Bangladeshi taka is the currency of the People’s Republic of Bangladesh and it is denoted as (code: BDT, Bengali: টাকা, sign: ৳, Tk). Issuance of banknotes ৳10 to ৳1000 is issued and controlled by Bangladesh Bank, and the ৳2 and ৳5 banknotes and the coins, which are the responsibility of the Ministry of Finance of the government of Bangladesh. The symbol for the taka is “৳” and “Tk”, is commonly used on receipts while purchasing goods and services and in recent issued the symbol “৳” is used in a 5-taka banknote. ৳1 is equivalent to 100 poisha.

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

The word “taka” in Bangla is also commonly used to mean any money, coins, currency, or notes. Thus, a person speaking in Bangla may use “taka” to refer to money regardless of what currency it is denominated in. In West Bengal and Tripura (States of India), where the official name of the Indian rupees is “taka” as well. In Assam it is “टका” and it is टंका in Orissa.

After the Partition in 1947 the Bengal was divided in to two parts East and West Bengal.  East Bengal, which later became the eastern wing of Pakistan union and was renamed to East Pakistan in 1956, the Pakistani rupee also used the word taka on official notes and coins. Bangla was one of the two national languages of the Pakistan union between 1956 and 1971 where Bangla was used in the East Pakistan and the other being Urdu used in West Pakistan. The Bangladeshi taka came into existence on 01 March 1972. The conversion was established as 1 Pakistan Rupee (PKR) = 1 Bangladesh Taka (BDT).

Prior to the banknotes of the State Bank of Liberation war in 1971,  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 04 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 08 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.

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, and the 10 poisha were scalloped. Steel ৳5 were introduced in 1994, and 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.

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