The Bangladeshi Taka (BDT) is the currency used by Bangladesh, a vibrant and rapidly growing country in South Asia. 

People use it in everyday transactions, such as buying groceries and paying for services.

Taka serves as an essential currency for anyone interested in the economy of Bangladesh or planning to travel there, as it reflects the country’s growth and development over the years.

What is the Bangladeshi Taka (BDT)?

The Bangladeshi Taka (BDT) is the official currency of Bangladesh, a country located in South Asia. The Taka is essential for all types of transactions, for buying food and paying for services. 

It is represented by the symbol ৳ and is often shown as BDT when dealing with international transactions. 

Taka is important for anyone living in or visiting Bangladesh, as it plays a crucial role in the daily lives of the Bangladeshi people.

Symbol of the Bangladeshi Taka

The symbol for the Bangladeshi Taka is ৳. This symbol represents the currency in various transactions, making it easier for people to identify.

When writing amounts, you may see it combined with the letters BDT, especially in financial documents or when dealing with international currencies.

Subunit of the Bangladeshi Taka

The Bangladeshi Taka is divided into 100 smaller units called poisha.

This means that just as one dollar consists of 100 cents, you can break down one Taka into 100 poishas.

Although people don’t commonly use poisha coins in everyday transactions, they still exist for smaller purchases.

Coins in the Bangladeshi Taka

The Bangladeshi Taka is represented by a variety of coins, each with unique designs and colors.

1 Poisha Coin: The 1 Poisha coin is small and made of a bronze-colored metal. It is not widely used but is part of the currency system.

2 Poisha Coin: This coin is slightly larger than the 1 Poisha coin and also made of bronze. It features a simple design and is used for very small transactions.

5 Poisha Coin: The 5 Poisha coin is made of nickel-plated steel, giving it a shiny appearance. It is used for minor purchases, such as sweets or snacks.

10 Poisha Coin: This coin is also made of nickel-plated steel. It is similar in size to the 5 poisha coin but has a different design, often featuring an image related to Bangladeshi culture.

25 Poisha Coin: This coin is larger and made of nickel-plated steel. It often features an image of a significant cultural or historical figure.

1 Taka Coin: The 1 Taka coin is made of brass and has a golden color. It features designs that represent Bangladesh’s culture and heritage.

2 Taka Coin: Similar to the 1 Taka coin, the 2 Taka coin is also brass but slightly larger. People commonly use it for everyday transactions.

5 Taka Coin: The 5 Taka coin is made of silver-colored metal and features more intricate designs compared to the lower denominations. People frequently use it for shopping and payments.

10 Taka Coin: This coin features a unique design made of nickel-plated steel that showcases Bangladesh’s identity.

Banknotes of the Bangladeshi Taka

The Bangladeshi Taka is also issued in banknotes, which come in several denominations. 

2 Taka Banknote: The 2 Taka banknote is pink in color and measures 113 mm x 66 mm. It features an image of the historic Bengal Tiger, symbolizing strength and pride in Bangladesh.

5 Taka Banknote: This banknote is green and has the same size as the 2 Taka note (113 mm x 66 mm). It displays an image of Nawab Sir Salimullah, a prominent figure in Bangladeshi history.

10 Taka Banknote: The 10 Taka note is light blue and measures 130 mm x 60 mm. It features an image of the National Martyrs’ Memorial, honoring those who sacrificed their lives for the country.

20 Taka Banknote: This banknote is purple and measures 130 mm x 60 mm. It shows the Sundarbans, a UNESCO World Heritage site known for its mangrove forests and wildlife.

50 Taka Banknote: The 50 Taka banknote is orange in color and measures 130 mm x 60 mm. It features an image of Rabindranath Tagore, the first non-European Nobel Laureate in Literature.

100 Taka Banknote: This banknote is green and measures 130 mm x 60 mm. It displays the Jatiyo Sangsad Bhaban, the National Parliament House, designed by the famous architect Louis Kahn.

500 Taka Banknote: The 500 Taka banknote is a deep blue color and measures 155 mm x 65 mm. It features an image of Bangabandhu Sheikh Mujibur Rahman, the founding father of Bangladesh.

1000 Taka Banknote: This is the highest denomination, with a purple color, and measures 155 mm x 65 mm. It displays an image of the National Flag of Bangladesh, symbolizing the country’s identity and independence.

Exchange Rate for Bangladeshi Taka

The Bangladeshi Taka has an exchange rate with various international currencies, such as the US Dollar and the Euro. The exchange rate changes frequently based on the economy’s performance. For example, 1 USD might be equal to about 110 BDT, but this value can change daily.

How the Bangladeshi Taka is Used

The Bangladeshi Taka is used in all areas of daily life in Bangladesh. From shopping in local markets to dining in restaurants, it is essential to pay for goods and services. Many businesses, shops, and markets accept cash payments in Taka, while some larger stores may also accept digital payments.

The availability of Taka allows people to buy what they need, such as food, clothing, and household items. It’s common for people to negotiate prices, especially in markets, as bargaining is a part of the culture.

How Much is 1 Taka to 1 Naira?

The value of 1 Bangladeshi Taka (BDT) compared to the Nigerian Naira (NGN) can change daily based on the foreign exchange market. 

1 BDT is equal to 13.84460 NGN. This means that if you have 1 Taka, you can exchange it for about 13.84460 Naira. 

Exchange rates can vary, so it’s important to check current rates if you’re planning to exchange currency.

How Much is 100 Bangladesh in Nigeria?

To find out how much 100 from Bangladesh is in Nigeria, we first need to understand the current exchange rate. 

1 BDT is equal to 13.84460 Naira (NGN).

Now, multiply the amount in BDT by the exchange rate:

100 BDT x 13.84460 NGN = 1,384.46 NGN

Remember, exchange rates can change, so it’s always good to check before making any transactions.

How Much Does Bangladesh Receive in Personal Remittances?

Personal remittances refer to the money that people send back home to their families or friends. 

In Bangladesh, remittances play a crucial role in the economy. Many Bangladeshi workers live abroad and send money back home to support their families.

Bangladesh receives around $22 billion in personal remittances each year. This money helps families pay for daily needs like food, education, and healthcare. 

It also contributes to the country’s overall economic growth, making it an essential part of Bangladesh’s financial situation. 

The government encourages remittances by providing services and support to those who want to send money home.

Conclusion 

The Bangladeshi Taka (BDT) is more than just a currency; it represents the hopes and ambitions of the Bangladeshi people. 

With its rich history and connection to the country’s economic progress, the Taka is vital for trade, commerce, and daily life in Bangladesh. 

As the country continues to develop and expand its economy, the Taka will remain an essential part of its journey. 

If you are a visitor, an investor, or simply curious about Bangladesh, understanding the Taka gives you insight into the country’s finances and its potential for the future.