Glossary: taka

DEFINITION:
Bangladeshs unit of currency adopted in 1971, derives from the word tonka, the Iranian coinage used during the Delhi Sultanate (q.v.). In September 1988, the official exchange rate was US$1 equals Tk34.20. One hundred paisas constitute 1 taka; there are 1-, 5-, 10-, 25-, 50-, and 100-paisa coins and banknotes in 1-, 10-, 20-, 50-, 100-, and 500-taka denominations. Ten million takas equals 1 crore (q.v.) takas.

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