Glossary: taka

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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