The People’s Republic of Bangladesh, formerly East Pakistan, sits on the Bay of Bengal. It has borders with India and Burma. This is an extremely impoverished country. Tsunamis, monsoons and earthquakes have taken a severe toll. Bangladesh has as its currency the taki. Its symbol is BDT. In this monetary system 100 poisha are equal to 1 taka.
History
Bangladesh coinage has been mostly Indian in origin and design in the past. The earliest coins date as far back as the late Gupta Period. Gupta-style coins also appear in the time of Sanka, King of Gauda (AD 600-625). These gold coins featured. On the obverse is Parvati, the Goddess wife of Siva in her role as Mother Goddess. She sits on a lotus plant being bathed by elephants.
Later coinage from the Chandra Dynasty came in gold. The Chandra’s successors replaced the old Indian-style gold coinage with silver Burmese-style copies. These Harikela coins continued in the 8th and 9th centuries. Alongside them were Indian, Burmese, and Middle Eastern Islamic currency. In Medieval times, cowrie shells acted as money.
Under Islamic rule in the 1190s, the coins of gold were Arabic. The Delhi Sultanate produced big silver pieces for Bengal called tankas. Tankas often appeared as issues from the local governors. Under the Mughal Empire, during the 16th century, the basis for all coinage was the gold mahur and the silver rupee.
The British in 1772, introduced coins from the British East India Company as well as British coins. This changed in 1947 when Pakistani coins became the norm as Bangladesh became East Pakistan. The coinage, however, was to change again with independence and a name change in 1971. The new currency was the poisha coin shaped like the Pakistani money. The taka followed in 1975. Paper money expanded to include a 50 taka in 1975 and 500 taka in 1978. A 20 taka note came in 1980, but a 10 taka note in 2000 has proven unpopular. Currently, the paper 1 and 2 taka are being taken out of circulation, replaced by coins.
Today, there are several denominations in both taka and poisha. The currency includes both coins and banknotes.
Obtaining Bangladesh Taka
It is sometimes best to convert into the local currency. When you do bring in and keep your foreign money, you must declare it on a Currency Declaration form. Try exchanging it through a bank. You may, however, be better off using your hotel as a moneychanger. Some of the larger shops are also able to offer you better rates than a bank. There is not a proliferation of ATMs or any other type of banking machine. This is completely accurate about places outside the urban centers of Dhaka and Chittagong.
Protecting Your Currency
Overall, Bangladesh is not tourist friendly. It is a very poor country. Common occurrences include pickpocketing, purse snatching, and mugging. Be wary when taking a rickshaw or baby taxi you do not lose your cash or wallet. You should never walk alone after dark. This is double for unaccompanied women.One further precaution - beware of the pirates. Coastal waters are fraught with incidences of piracy and robbery. Take the right precautions when setting out to sea.
Using Your Bangladesh Taka
The
Bangladesh taka is your best coinage for purchases in and out of the
urban areas. Whether you are buying pink pearls or silver filigrees in
Dahka or tea in sylhet, use the local currency. In the outer areas,
there are not many exchange outlets. Be sure you have sufficient funds
available for those purchases out of town.
The taka and the poisha
are also more apt for the baby taxi and rickshaw forms of
transportation. They purchase meals at restaurants. The local currency
also covers the necessary tipping that accompanies practically
everything.
Travel Tips and Warnings
- Always check the weather before leaving for Bangladesh. This is a country of monsoon floods and other heavy weather disturbances.
- Be sure you do not venture into areas of unrest. These include the Chittagong Hill Tracks region. This is a place of civil unrest. In fact, the authorities require you inform them of your intent.
- Women alone are not safe in Bangladesh in many regions.
- Armed robbery and other forms of violence are found in the cities of Dakha and Chittagong while it is not uncommon to see political unrest outside the urban areas.
- Be aware of the health issues such as Avian Bird Flu.
- Tips are required for almost everything.
- Enjoy Dhaka with its blend of old and new.
- Go to Cox’s Bazaar, a well-known tourist resort on the coast.
- The tidal forest along the coastline is the last reserve of the Bengal Tiger.
- In the Bagerhat area, you can see several historical Hindu and Muslim monuments while, at Paraour, lie the remains of what was the largest Buddhist monastery south of the Himalaya Mountains.
Overview
Bangladesh
has suffered many economic and physical set backs over the past few
years. It is a poverty-stricken country. The scenery and natural
attributes are beautiful but many are threatened by natural and
human-made disasters.
For factual information and data, go to www.bangladesh.gov.bd. For travel information, see www.discoverbangladesh.com.
Currency Summary
Current currency: Taka
100 poishas equal 1 taka.
Coins: 5, 10, 25, 50 and 100 poisha
Banknotes: 1, 2, 5, 10, 20, 50, 100 and 500 taka