Taka Rate Today: The taka is the foreign money unit utilized in Bangladesh, issued and controlled via the means of the Bangladesh Bank. It is represented by way of means of the symbol “৳” and the ISO code “BDT” (Bangladesh Taka). The word “taka” is derived from the Sanskrit word “tanka,” which means a coin or money. Introduced in 1972, the taka changed the East Pakistani rupee after the united states of america received independence from Pakistan.
The foreign money is available in numerous denominations, such as cash and banknotes, with banknotes being the extra broadly used shape of foreign money. As of now, Bangladesh’s monetary growth, inflation rates, and global exchange sports all play a key position in figuring out the modern-day rate of the taka.
The Current Taka Exchange Rate: Key Insights
As of today, the exchange rate for the Bangladeshi taka fluctuates primarily based totally on numerous international and nearby elements. The rate varies depending on the foreign money you’re replacing it for, and the imperative bank sets a hard and fast rate for a few currencies, whilst the rate for others is decided by means of the marketplace forces of delivery and call for.
For example:
USD to BDT: The exchange rate of US dollar (USD) to Bangladeshi taka (BDT) is a chief problem for global investors, businesses, and people sending remittances to Bangladesh. On average, the rate hovers among a hundred and five to a hundred and ten BDT according to 1 USD, however this may exchange primarily based totally on marketplace conditions, financial policy, and geopolitical events.
Euro to BDT: The Euro to taka rate is in addition significant, with fluctuations broadly speaking pushed via means of the monetary balance of the Eurozone and Bangladesh’s exchange members of the family with European countries.
In current times, the rate of the taka has been dealing with depreciation because of numerous reasons, such as inflationary pressures and an exchange imbalance.
Despite this, the authorities and the imperative bank of Bangladesh attempt to preserve a solid exchange rate to make sure that the foreign money does now no longer revel in immoderate volatility.
How much is $1 US in Bangladesh?
As of February 18, 2025, the exchange rate from US dollars (USD) to Bangladeshi taka (BDT) is about 121.45 BDT according to 1 USD.
How much is 1 rupee to one taka?
As of February 18, 2025, the exchange rate from Indian Rupees (INR) to Bangladeshi Taka (BDT) is about 1 INR = 1.398 BDT.
The Current Taka Exchange Rate
As of February 18, 2025, the exchange rate for the Bangladeshi Taka (BDT) is as follows:
US Dollar (USD) to Bangladeshi Taka (BDT): Approximately 121.45 BDT according to 1 USD.
Euro (EUR) to Bangladeshi Taka (BDT): Approximately 127.25 BDT according to 1 EUR.
Indian Rupee (INR) to Bangladeshi Taka (BDT): Approximately 1.398 BDT according to 1 INR.
Factors Affecting the Taka Exchange Rate
Inflation Rates
Inflation has an instantaneous impact at the exchange rate of a united states of america’s foreign money. A better inflation rate normally ends in a lower in the foreign money’s rate relative to different currencies. Bangladesh has skilled inflation in current years, which has contributed to the depreciation of the taka.
Interest Rates
Interest rates set by way of means of the Bangladesh Bank are a key determinant of the rate of the taka. Higher exchange rates regularly appeal to overseas investments, thereby growing calls for the foreign money and riding up its rate. Conversely, decreasing exchange rates can bring about a weaker taka.
Government Policies
Monetary and monetary rules carried out via means of the Bangladesh authorities play a critical position in influencing the taka’s rate. For instance, modifications in tax rates, exchange rules, or authorities spending can affect the United States of America’s monetary overall performance and, in turn, its foreign money.
Global Economic Events
Global monetary elements inclusive of modifications in oil expenses, geopolitical conflicts, and exchange agreements can have an effect on the taka’s rate. For example, fluctuations in international oil expenses can impact Bangladesh’s import bill, impacting the call for overseas foreign money and the exchange rate.
Exchange Balance
Bangladesh’s exchange balance, that is the distinction among the rate of exports and imports, additionally affects the exchange rate. If the United States of America has an exchange deficit (uploading extra than it exports), there may be more calls for overseas foreign money, mainly to a weaker taka.
Foreign Remittances
Bangladesh is one in all the biggest recipients of remittances in the world. The influx of remittances from Bangladeshis running overseas helps the call for the taka. If remittance flows are strong, it could assist stabilize the foreign money.
Historical Trends in the Taka Exchange Rate
Over the decades, the taka has seen numerous fluctuations, motivated by means of numerous home and global elements.
1970s – 1980s: After Bangladesh received independence, the taka turned into fairly solid, pegged to the Indian rupee for a time. However, all through the 1980s, the United States of America experienced inflation, which started to have an effect on the foreign money’s rate.
1990s: During this period, Bangladesh started to open up its financial system to global exchange and overseas investment. The taka experienced a little volatility because the United States of America moved closer to an extra liberalized exchange rate regime.
2000s – Present: The taka has seen a sluggish but constant depreciation because of elements like inflation and exchange deficits. However, the Bangladesh Bank has managed to maintain the exchange rate fairly solid in current years, notwithstanding occasional fluctuations.
What Does the Taka Depreciation Mean for the Economy?
depreciating foreign money could have fantastic and bad outcomes for the financial system. On one hand, a weaker taka could make Bangladeshi exports extra aggressive in the international marketplace, boosting the United States of America‘s export-oriented industries, inclusive of textiles and garments. On the other hand, depreciating foreign money could make imports extra high-rated, growing the rate of dwelling for purchasers and businesses.
Additionally, depreciation could have an effect on overseas debt, making it extra high-rated for the authorities to pay off loans in overseas currencies.
Expert Predictions
XE.com and the currency market analysts commonly forecast a mild depreciation of the Taka towards the USD and different main currencies in the coming years, pushed via means of elements inclusive of international inflation, exchange imbalances, and Bangladesh’s overseas debt obligations.
However, if Bangladesh keeps its monetary momentum, mainly via its developing exports in sectors like textiles and garments, the depreciation might be extra gradual.
Key Takeaways
The taka exchange rate these days displays the complexities of Bangladesh’s monetary environment. Several factors, which includes inflation, authorities policies, international events, and exchange imbalances, make a contribution to the fluctuations in the taka’s value. Understanding those dynamics is important for individuals, businesses, and exchangers who cope with the Bangladeshi currency.
FAQs
How can I track the latest taka exchange rates?
You can track the latest exchange rates of the taka through economic information websites, currency converter tools, and the Bangladesh Bank’s reliable website. Additionally, foreign exchange agents and online systems which include XE.com provide real-time updates.
What is the effect of remittances at the taka exchange rate?
Remittances play an effective function in stabilizing the taka. When Bangladesh gets a better extent of remittances, the call for taka increases, assisting to guide its value. As a result, any fluctuations in remittance flows can have an effect on the currency.
How does the taka have an effect on Bangladesh’s import rates?
A weaker taka makes imports extra expensive, because it calls for extra taka to shop for overseas goods. This can make a contribution to better inflation, mainly for imported merchandise which include fuel, technology, and meals items.
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