Bangladeshi Currncy or Taka details



Bangladeshi Currncy or Taka details
The Taka (Bengali: টাকা, sign:  or Tk, code: BDT) is the currency of Bangladesh. Bangladesh Bank being the central bank of the country controls the issuance of the currency except 1 and 2 notes, which are the responsibility of the Ministry of Finance of the government of Bangladesh. The most commonly used symbol for the Taka is Tk and , used on receipts while purchasing goods and services. 1 is subdivided into 100 poisha.
In Bengali, the word "taka" is also commonly used generically to mean any money, currency, or notes. Thus, colloquially, a person speaking Bengali may use "taka" to refer to money regardless of what currency it is denominated in. The currency sign is encoded in Unicode at U+09F3  bengali currency sign (HTML: )


History
In 1971 when Bangladesh got independence from Pakistan, the Pakistan Rupee was the interim currency. The taka became Bangladesh's currency in 4 March 1972, replacing the Pakistani rupee at par. The word "taka" is derived from the Sanskrit term tangka (ṭaṃka) which was an ancient denomination forsilver coins. The term taka was widely used in different parts of India but with varying meanings. In north India, taka was a copper coin equal to two paisaand in the south India, it was equal to four paisa or one anna. It was only in Bengal where taka was equal to rupee. In all areas of India, taka was used informally for money in general. However, Bengal was the stronghold of taka.
The rupee was used in Mughal India in medieval times, but never universally. The Bengali people always continued to use the word taka for the rupee, whether silver or gold. Ibn Battuta, the fourteenth-century Arab traveller, noticed that, in Bengal, people described gold coins (Dinar) as gold taka and silver coin as silver taka. In other words, whatever might be the metallic content of the coin, the people of Bengal called it taka. When the Pakistan Rupee was issued prior to 1971 bearing both Urdu and Bengali alphabets (the official languages of the West and East zones respectively), the word taka was continued to be used in Bengali version instead of rupiya of the Urdu version.
Issuing Authority
Banknotes 5 and larger are issued by the Bangladesh Bank which is the central bank of Bangladesh. These notes bear the signature of the governor of the Bangladesh Bank who promises to pay the equivalent value in exchange. 1 and 2 notes are issued by the Ministry of Finance of the government of Bangladesh and bear the signature of the Finance Secretary.

Value Fluctuation
Upon Bangladesh's independence, the value of the Bangladeshi taka was set between 7.5 and 8.0 to US$1. With the exception of 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 the establishment by the World Bank of the Bangladesh Aid Group.
Between 1980 and 1983, the taka sustained a decline of some 50 percent because of 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 United States 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 the amount of 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 Tk31 to US$1. In January 2011, 1 US dollar was equivalent to approximately 72 Bangladeshi taka and as of 21 April 2012, 1 US dollar is worth close to 82 Bangladeshi taka.

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.
1973 Series
Image
Value
Composition
Description
Date of first minting
Reverse
Obverse
Obverse
Reverse

5 poisha
Aluminium
National emblem

1973

10 poisha


25 poisha
Steel
Rohu

50 poisha

1974 Series
1 poisha
1 poisha
Aluminium
National emblem
Ornamental design, floral patterns
1974

5 poisha


10 poisha


25 poisha
Steel



1
Various
Four human figures, slogan "Planned family - Food for All"
1975
1977 Series

5 poisha
Aluminium
National emblem
Plough, Industrial wheel
1977

10 poisha
A man and a woman seated on 2 back steeds facing each other

25 poisha
Steel
Royal Bengal Tiger

50 poisha
Hilsha fish, Chicken, Pineapple, Banana
Newer Issues


50 poisha (Actual ones have the size of above 25 poisha coin)
Steel
National emblem
Hilsha fish, Chicken, Pineapple, Banana
2001

1
Four human figures, slogan "Planned family - Food for All"
1992

1 (Golden Version )
Four human figures, slogan "Planned family - Food for All"
1996

1
Four human figures, slogan "Planned family - Food for All"
2003

1
Sheikh Mujibur Rahman
2010

2
Steel
National emblem
Education for All
2004


2
Sheikh Mujibur Rahman
2010

5
Jamuna Multipurpose Bridge
1994

5
Steel
Sheikh Mujibur Rahman
Bangladesh Bank logo
2012


Bank Notes
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 "BANGLA DESH" as two words in either Bengali 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, bi-lingual 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.
These were followed in 1972 by treasury notes 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.
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.
In 2008, the government issued 1000 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.
In 2011, Bangladesh Bank 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 60mm 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.
Bangladesh Bank plans to introduce 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.”
Bangladesh Bank has withdrawn the new 50 note after a spelling mistake of Shilpacharya Zainul Abedin (জয়নুল আবেদীন) 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.
Bangladesh Bank issued the withdrawn 50 note on July 15, 2012 after correcting the spelling mistake of Shilpacharya Zainul Abedin (জয়নুল আবেদিন) which was identified on the back of the note. The corrected note is identical to the withdrawn note, except for the date (2012 vs. 2011) and the caption on the back.
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.
On June 15, 2014, Bangladesh bank issued a new five taka note which is same as previous five taka note but the color of new note is brown with white border on front and back side.


Currently Circulating Notes
Image
Value
Dimensions
Main Colour
Description
Date of
Remarks


Obverse
Reverse
Obverse
Reverse
issue
Status




2
100 × 60 mm
Orange and green
Shahid Minar
National Bird Doyel
29 December 1988
Current
To be replaced by 2 Taka coins.
·         voted world's most beautiful currency note.[12][13]




5
119 × 64 mm
Cream
Mehrab
Industrial landscape
8 October 2006
Current
first issued on 2 May 1978




10
122 × 59 mm
Pink
Baitul Mukarram
Jatiyo Sangshad Bhaban
Present version 21 September 2006
Current
first issued on 2 June 1972




20
130 × 60 mm
Green
Choto Sona Mosque
4 men washing jute
Present version 13 July 2002
Current
first issued on 20 August 1979




50
130 × 60 mm
Cream, lime green
Jatiyo Sangshad Bhaban
Bagha Mosque
Present version 30 July 2005
Current
first issued on 1 March 1976




100
140 × 62 mm
Blue
National Monument
Jamuna Bridge
Present version 16 July 2006
Current
first issued on 1 September 1972




500
153 × 69 mm
Purple
National Monument
The Supreme Court, Dhaka
Present version 24 October 2004
Current
first issued on 15 December 1976




1000
160 x 72 mm
Reddish pink
Shahid Minar
Curzon Hall
Present version 27 October 2008
Current
first issued on 27 October 2008




10
152 x 64 mm
Pink
Bangabandhu
Jatiyo Sangshad Bhaban
14 December 2000
Withdrawn
First and OnlyPolymer note in Bangladesh


These images are to scale at 0.7 pixels per millimetre.
Source: Bangladesh Bank website

Commemorative Notes
Image
Value
Dimensions
Main Color
Description
Date of issue
Date of first issue
Watermark
Obverse
Reverse
40 taka
40
122 x 60mm
Dark red, orange, and green
Bangabandhu; National monument (Savar)
Soldiers
2011
December 21, 2011
Sheikh Mujibur Rahman, electrotype 10 denomination and bank logo

60
130 x 60mm
Yellow, brown, violet, orange, and blue
Shaheed Minar monument
Veterans of the "Language Movement", first Shaheed Minar monument (1952)
2012
February 15, 2012
Sheikh Mujibur Rahman on pixelated background, electrotype bank logo and 50

25
123 x 60mm
Blue, purple and red
National Martyr's Monument in Savar, Bangladeshi taka banknotes and postage stamps, three spotted deer, magpie robin (doyel) bird
Headquarters of the Security Printing Corporation
2013
January 26, 2013
Sheikh Mujibur Rahman, electrotype 10 denomination and bank logo

100
140 x 62mm
Blue and red
18th-century terra-cotta plaque of a horseman
Bangladesh National Museum
2013
July 09, 2013
Sheikh Mujibur Rahman on a pixelated background, electrotype 100 denomination and bank logo
These images are to scale at 0.7 pixels per millimeter.


Share on Google Plus

About Khondoker Hafizur Rahman

This is a short description in the author block about the author. You edit it by entering text in the "Biographical Info" field in the user admin panel.

World Clock