📚 Part of: British Colonial History Mcqs: Historical Dates And Territorial Acquisitions

SAMPRITI is joint military exercise between India and Bangladesh. What is the currency of Bangladesh?

Category: Miscellaneous Indian Gk

Correct Answer: A) Bangladeshi Taka.

Exam Relevance: UPSC, SSC, Banking Exams, State PSC

Difficulty: Easy

Concept notes:

The Bangladeshi Taka is the official currency of Bangladesh. It is issued by the Bangladesh Bank, the central bank of Bangladesh. The currency is denoted by the symbol "৳" and the ISO code BDT. The Taka is subdivided into 100 poisha.

Common Mistakes:
  • Confusing the Bangladeshi Taka with other currencies like the Indian Rupee or Chinese Yuan.
  • Not recognizing the correct spelling and form of the currency.
Explanation:

The Bangladeshi Taka is the official currency of Bangladesh, denoted by the symbol "৳" and the ISO code BDT. It is the only legal tender in Bangladesh and is used for all financial transactions within the country. The Taka is subdivided into 100 poisha, which are the smallest units of currency.

The currency was introduced in 1972, shortly after Bangladesh gained independence from Pakistan. The Bangladesh Bank, the central bank of Bangladesh, is responsible for issuing and managing the Taka. The design of Bangladeshi banknotes and coins often features national symbols, historical figures, and important landmarks, reflecting the country's cultural and historical heritage.

It is important to distinguish the Bangladeshi Taka from other currencies in the region, such as the Indian Rupee (INR) and the Pakistani Rupee (PKR). While Bangladesh and India share a border and have historical ties, they have separate currencies. The confusion might arise due to the proximity and historical connections between these countries.

Understanding the currency of Bangladesh is crucial for those interested in international relations, economics, and military exercises like SAMPRITI, which is a joint military exercise between India and Bangladesh. Knowledge of the currency can help in understanding the economic context and financial transactions that might occur during such exercises or in broader bilateral relations.

In summary, the Bangladeshi Taka is the correct answer as it is the official and only legal tender in Bangladesh, used for all financial transactions within the country. The other options are incorrect as they either do not exist or are currencies of other countries.

Option Analysis:
  • Option A: This option is correct. The Bangladeshi Taka is the official currency of Bangladesh. It is the only legal tender in the country and is used for all financial transactions within Bangladesh.
  • Option B: This option is incorrect. The Bangladeshi Yuan is not a real currency. The Yuan is the currency of China, and there is no such thing as a Bangladeshi Yuan. This option might be chosen by students who confuse the currencies of different countries.
  • Option C: This option is incorrect. The Bangladeshi Rupee is not the official currency of Bangladesh. The Indian Rupee is the currency of India, and while Bangladesh was once part of India, it has its own currency, the Taka, since 1972.
  • Option D: This option is incorrect. The Bangladeshi Kita is not a real currency. This option might be chosen by students who are unfamiliar with the currencies of South Asian countries and might confuse it with other currencies or terms.

Mnemonic: Taka is the currency, think "Taka" for "T" in "Bangladesh".

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