Bangladesh Currency Guide: Explore with the Bangladeshi taka
Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in Bangladesh with the Bangladeshi taka
What's in this Bangladesh currency guide?
What currency is used in Bangladesh?
The official currency of Bangladesh (country code: BD) is the Bangladeshi taka, with symbol ৳ and currency code BDT.
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Frequently Asked Questions
What currency should I use in Bangladesh?
The domestic currency in Bangladesh is the Bangladeshi taka.
What is the Bangladeshi taka currency code and symbol?
The three letter currency code for the Bangladeshi taka is BDT — symbol is ৳.
What doe the Bangladeshi taka look like?
Here is an example Bangladeshi taka banknote:
Which countries use the Bangladeshi taka?
It is the domestic currency in Bangladesh.
Is the Bangladeshi taka a closed currency?
No, the Bangladeshi taka is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of USD and BDT?
Here are some popular conversion amounts for USD to BDT (US dollar to Bangladeshi taka)*.
*Converted at the current USDBDT interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Things to know about the Bangladeshi taka
The currency code "BDT" refers to the Bangladeshi taka, which is the official currency of Bangladesh. It is represented by the symbol "৳" and is abbreviated as BDT. The physical currency consists of coins and banknotes. The coins come in denominations of 1 poisha, 5 poisha, and 10 poisha. The banknotes come in denominations of 2 taka, 5 taka, 10 taka, 20 taka, 50 taka, 100 taka, 500 taka, and 1,000 taka. The banknotes feature images of famous Bangladeshi historical figures, such as Sheikh Mujibur Rahman and Kazi Nazrul Islam. The design of the currency is constantly being updated, so the physical appearance of the coins and banknotes may vary slightly over time.
Travel money for Bangladesh
Using Wise for Bangladeshi taka travel money is a smart choice for savvy travelers. With its competitive exchange rates and low fees, Wise allows you to convert and manage multiple currencies effortlessly.
Be careful when using your own bank's Debit/Credit Card, as your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash on top of the standard Visa/Mastercard 2.5% from market mid-rate.
For card purchases, if you are offered a choice of currencies always select to Pay in Bangladeshi taka otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.
If you really want Bangladeshi taka cash before departure, you can save money by ordering online. You generally get better rates and can pick up the BDT cash locally or even on travel day at the airport.
Bangladesh is a country in South Asia, located on the eastern side of the Indian subcontinent. It is bordered by India to the north, east, and west and by Myanmar to the south. Bangladesh is the eighth-most populous country in the world, with a population of around 164 million people. The official language is Bengali and the currency is the Taka.
Bangladesh is a predominantly agricultural country, with rice and wheat being the main crops. The country is also a major exporter of textiles and garments, and the ready-made garment industry is a major contributor to the economy. However, Bangladesh also faces a number of challenges, including poverty, corruption, and political instability.
Despite these challenges, Bangladesh has made progress in recent years in areas such as healthcare and education. The country has also made efforts to promote economic growth and reduce poverty, including through the development of infrastructure and industry.
Bangladesh is a diverse country with a rich culture and history. It is known for its beautiful landscapes, including the Sundarbans, the world's largest mangrove forest, and for its vibrant arts and crafts scene. The country is predominantly Muslim, but it is also home to a number of other religious communities, including Hindus, Buddhists, and Christians.
Travel tips for Bangladesh
Here are a few travel tips for visiting Bangladesh:
- Pack light: Bangladesh has a hot and humid climate, so it's best to pack light, breathable clothing. It's also a good idea to bring a lightweight raincoat or umbrella, as the country experiences heavy rainfall during the monsoon season.
- Bring cash: Credit cards are not widely accepted in Bangladesh, so it's important to have cash on hand for expenses such as transportation, accommodation, and meals. The local currency is the Taka.
- Respect local customs: Bangladesh is a predominantly Muslim country, and it's important to be respectful of local customs and traditions. This includes dress codes, particularly for women, and observing appropriate behavior in places of worship.
- Be prepared for power outages: Power outages are common in Bangladesh, so it's a good idea to bring a backup power source for electronics.
- Learn a few phrases in Bengali: While English is widely spoken in Bangladesh, it's always appreciated when visitors make an effort to speak the local language. Learning a few phrases in Bengali can go a long way in showing your respect for the culture of the country.
- Stay hydrated: The heat and humidity in Bangladesh can be intense, so it's important to stay hydrated. Bring a water bottle and refill it regularly to avoid dehydration.
- Protect yourself from mosquito bites: Mosquitoes are prevalent in Bangladesh and can carry diseases such as malaria and dengue fever. It's a good idea to bring insect repellent and take precautions to protect yourself from mosquito bites.
USD/BDT Market Data
The below interactive chart displays the USD/BDT change and UP📈 DOWN📉 trends over the past 1 Year.
Send Money to Bangladesh - Best Rates
To get a good (and fair) exchange rate when sending money to Bangladesh you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
Get a better deal for foreign transfers to Bangladesh
When sending money to Bangladesh it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Bangladeshi taka amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted BDT amount will be transfered to the recipient account you specify in Bangladesh.
Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Bangladeshi taka deposited into the recipient bank account and less margins and fees kept by the banks!
Managing money while living and working in Bangladesh
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
Understand Bangladeshi taka currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the BDT exchange rate and consider using a money transfer specialist or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local Bangladeshi taka bank account: A local BDT bank account can make it easier for you to manage your finances and pay bills while you are in Bangladesh. It may also be more convenient to use a local BDT bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Bangladesh. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in Bangladesh. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in Bangladesh, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.
We have put together some key points to help managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Bangladesh.
What kind of economy does Bangladesh have?
Bangladesh has a mixed economy that is predominantly agricultural, with rice and wheat being the main crops. The country is also a major exporter of textiles and garments, and the ready-made garment industry is a major contributor to the economy. Other important sectors of the economy include pharmaceuticals, telecommunications, and financial services.
Despite being one of the poorest countries in the world, Bangladesh has made significant progress in recent years in reducing poverty and promoting economic growth. The country has achieved strong economic growth in recent years, with its GDP growing at an average rate of around 6% per year. However, Bangladesh still faces a number of economic challenges, including a large trade deficit, high inflation, and a high population growth rate.
The government of Bangladesh has made efforts to promote economic development and reduce poverty, including through the development of infrastructure, the expansion of the manufacturing sector, and the promotion of foreign investment. The country is a member of the World Trade Organization and has made efforts to improve its business climate. However, corruption remains a challenge in Bangladesh and the country ranks poorly in global indices of press freedom and human rights.
