From 1996 to 1998, the CPWD undertook demolition; but the building was saved from being completely demolished by the Indian National Trust for Art and Cultural Heritage (INTACH) and the Kolkata Municipal Corporation.

During its use as a currency office, the central hall contained the exchange counters for banknotes, gold, silver, and small change.

B. D. Bagh (which is Kolkata's central business district, formerly known as Dalhousie Square), at the intersection of Old Court House Road and Surendra Mohan Ghosh Sarani.

[2][5] The Lal Dighi water tank is located approximately 100 metres (330 ft) northwest of the building, the Mahakaran metro station on Green Line and the B.

[8] In 1825, the Agra Bank[a] acquired the plot,[8] constructing, in 1833, during William Bentinck's tenure as governor general, the present-day building to house its Calcutta branch.

[16][20][23] The RBI was established to regulate the issuance of banknotes, maintain reserves to secure monetary stability, and operate India's currency and credit systems.

[15] The department had demolished the building's three large domes over the central hall before the Indian National Trust for Art and Cultural Heritage (INTACH) and the Kolkata Municipal Corporation intervened and halted demolition in 1998.

[5] On 11 January 2020, Prime Minister of India Narendra Modi formally dedicated the Currency Building as a public museum to the nation at its reopening ceremony.

[15] In February 2021, two works of Abdur Rahman Chughtai, considered Pakistan's national artist, were displayed for the first time at the Currency Building as part of the Ghare Baire exhibit.

[29][30] In January 2021, the Currency Building also served as an event space for talks given as part of the Apeejay Kolkata Literary Festival 2021.

[14][18] During the building's use as a currency office, the central hall contained the exchange counters for banknotes, gold, silver, and small change.

[5] ASI installed motion-sensor-equipped glass doors to provide access between the central hall and adjacent interior corridors;[1][5] polished the windows and doors in the western wing; repainted the exterior façade white;[5] plastered the interior walls; repaired floors; restored decaying wooden staircases;[1][16] and overhauled the drainage system to mitigate seepage from the drainage lines of adjacent buildings.

[1][16] During this project, ASI archaeologists uncovered evidence of an underground canal from the nearby Hooghly River, the water from which was used to cool newly-minted coins.