The Bangladeshi monetary unit is commonly referred to as the taka. Other synonyms for this currency include BDT, Bangladeshi rupee, and Bangladeshi currency. The taka is the official currency of Bangladesh and is denoted by the symbol "৳". The term "rupee" is often used to refer to currencies used in South Asian countries, such as Sri Lanka and India, which are also former British colonies. One taka is made up of 100 paisa, which are subunits of the currency. The taka is widely used in Bangladesh for daily transactions, and is also accepted in neighboring countries such as India and Nepal.