How much taka is out there?

After emerging as an independent state on the world map on 16 December 1971, wart-torn Bangladesh quickly introduced its own banknotes as a symbol of sovereignty.

On 4 March 1972, Bangladesh's Tk1 and Tk100 banknotes were introduced. The notes were printed by the Security Printing Press of India.

Previously, the Pakistani rupee was used as the currency of this country. Bangladesh introduced its new currency, the Taka, which originated from the word "Tonko".

The design of the Tk1 note featured the map of Bangladesh and the words "Gonoprojatontri Bangladesh" and was signed by the country's first finance secretary, Khandaker Asaduzzaman.

The design of the Tk100 note had the map of Bangladesh and a picture of the Father of the Nation, Bangabandhu Sheikh Mujibur Rahman and had Bangladesh Bank written on it. The first governor of the central bank ANM Hamidullah signed this note.

Bangladesh has paper notes of Tk1, 2, 5, 10, 20, 50, 100, 200, 500 and 1,000 denominations. There are also metal coins of Tk1, 2 and 5 denominations. Previously, cent 1, 5 and 10 coins were in circulation, but now they are no longer in circulation.

However, although cent 25 and 50 coins are still seen, they are now rare. Bangladesh Bank is responsible for issuing and controlling paper notes on behalf of the government.

The government spends at least Tk500 crore every year to print new money. Some years, it even exceeds Tk700 crore.

As of December 2023, the total currency in circulation (CIC) in Bangladesh stands at Tk2,79,650 crore. This amount comprises both cash held by individuals and deposits in various banks across the country.

As per regulations, each bank retains a specific amount of cash and transfers any surplus to the Bangladesh Bank vault.

The central bank is responsible for verifying the condition of banknotes, withdrawing unfit notes from circulation, and issuing new ones. Cancelled notes are destroyed using secure procedures.

Money is lost for various reasons. Every year, Bangladesh Bank withdraws damaged notes from the market and issues new notes against them.

An executive director and spokesperson of Bangladesh Bank told TBS that the central bank maintains the process of withdrawing and reissuing money very carefully.

After verification by designated officials, the unfit notes are burned in the chimney. The central bank reissues the exact amount of money. However, so far, no coins have been returned to Bangladesh Bank and they have not been destroyed either.