Modern Pakistan came into being in 1947 when former British India was divided into the Union of India and the Dominion of Pakistan, which is today the Islamic Republic of Pakistan and the People's Republic of Bangladesh. The rupee is Pakistan’s official currency. The first paper money was provisional notes issued by the Reserve Bank of India for use exclusively within Pakistan. The State Bank of Pakistan was established in 1948 and given the responsibility for the issuance of banknotes. Pakistan banknotes were bilingual with both Bengali and Urdu text until the separation of Bangladesh in 1971. The designs of Pakistani paper money have been stable over the years. While new higher value notes were introduced, older lower value notes continued to circulate until they became obsolete and were replace by coins. In 2005, a new banknote series began with new designs and enhanced security features.