Sri Lankan rupee

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The rupee (Sinhala: රුපියල , Tamil: ரூபாய்) is the currency of Sri Lanka, divided into 100 cents. The currency code is LKR. It is issued by the Central Bank of Sri Lanka and is generally written ₨ (though SL₨ may occasionally be used for disambiguation).

[edit] History

Until 1870, the British pound was Ceylon's official currency, having replaced the rixdollar in 1828. Quarter farthings (one sixteenth of a penny), half farthings (one eighth of a penny) and three halfpennies (1½ pence) were issued in addition to those coins used in Britain.

The rupee was introduced in 1870. It was equal to the Indian rupee and replaced the British currency at a rate of 1 rupee = 2 shillings 3 pence. Unlike the Indian rupee, it was a decimal currency from the outset.

[edit] Coins

In 1870, copper ¼, ½, 1 and 5 cents coins were introduced, followed in 1892 by silver 10, 25 and 50 cents. Production of the ¼ cent ceased in 1904. The large, copper 5 cents coins was replaced in 1909 by a much smaller cupro-nickel coin which was square with rounded corners. In 1919, the fineness of silver used was reduced from .800 to .550.

Between 1940 and 1944, a wholesale change in the coinage was carried out. Production of the ½ cent ceased in 1940, with bronze 1 cent introduced in 1942. Nickel-brass replaced cupro-nickel in the 5 cents in the same year and replaced silver in the 25 and 50 cents in 1943. In 1944, nickel-brass, scalloped shaped 2 and 10 cents coins were introduced.

In 1963, a new coinage was introduced which omitted the monarchs portrait. Coins issued were aluminium 1 and 2 cents, nickel brass 5 and 10 cents and cupro-nickel 25 and 50 cents and 1 rupee. In 1978, aluminium replaced nickel-brass in the 5 and 10 cents. Cupro-nickel 2 rupees and aluminium-bronze 5 rupees coins were introduced in 1984.

The obverse of the coins issued since 1963 carry the Armorial Ensign of Sri Lanka. The reverse of the coin the value in numerals and in Sinhala, Tamil and English below and year of issue at the bottom with SRI LANKA in Sinhala on top. On 14 December 2005, the Sri Lanka central bank issued a new series of coins in the denominations of 25 and 50 cents, 1, 2 and 5 rupees. The lower denominations of 1, 2, 5 and 10 cents, although legal tender, are not seen in circulation and not in general issued by banks.

The observe and reverse designs of the new coins remained identical to the existing circulating coins of the same denominations. However their weights and alloys have been changed for easy identification purposes.

[edit] Commemorative coins

Coins in denominations of 100, 500, 1,000 and 5,000 rupees issued as commemorative coins were also in circulation at the end of 2003. Commemorative coins issued by Sri Lanka central bank include:

• 1957 5 rupee "2500th Buddha Jayanthi"
• 1968 2 rupee "Second World Food Congress"
• 1976 2 & 5 rupee "5th Non-Aligned Nations Summit Conference - Colombo"
• 1978 1 rupee "First Executive Presidency in Sri Lanka"
• 1981 5 rupee "50th Anniversary of the Universal Adult Franchise in Sri Lanka"
• 1981 2 rupee "Accelerated Mahaweli Scheme"
• 1987 10 rupee "International Year of Shelter for the Homeless"
• 1990 500 rupee "40th Anniversary of the Central Bank of Sri Lanka"
• 1991 100 & 500 rupee "5th South Asian Games held in Colombo - December 1991"
• 1992 1 rupee "3rd Anniversary of the Induction of the President R. Premadasa"
• 1993 500 rupee "2300th Anubudu Mihindu Jayanthi"
• 1995 2 rupee "50th Anniversary of the United Nations Food and Agricultural Organisation"
• 1995 5 rupee "50th Anniversary of the UNO"
• 1996 1 rupee "50th Anniversary of the United Nations Children's Fund"
• 1998 1000 & 5000 rupee "50th Anniversary of Independence - Sri Lanka"
• 1999 1000 rupee "Cricket World Cup"
• 1999 1 rupee "50th Anniversary of the Sri Lanka Army"
• 2000 1000 rupee "50th Anniversary of the Central Bank of Sri Lanka"
• 2000 1 rupee "50th Anniversary of the Sri Lanka Navy"
• 2001 1 rupee "50th Anniversary of the Sri Lanka Air force"
• 2001 2 rupee "50th Anniversary of the Colombo Plan"
• 2003 5 rupees "250th Anniversary of Syamopali Maha Nikaya, Asgiriya and Malwatta Chapters" (Two Coins)

[edit] Banknotes

In 1895, the Government of Ceylon introduced its first paper money, 5 rupees notes. These were followed by 10 rupees in 1894, 1000 rupees in 1899, 50 rupees in 1914, 1 and 2 rupees in 1917 and 100 and 500 rupees in 1926. In 1942, emergency issues for 5, 10, 25 and 50 cents were introduced and issued until 1949.

In 1951, the Central Bank of Ceylon took over the issuance of paper money, introducing 1 and 10 rupees notes. These were followed in 1952 by 2, 5, 50 and 100 rupees notes. The 1 rupee notes were replaced by coins in 1963.

From 1977, banknotes were issued by the Central Bank of Sri Lanka. 20 rupees notes were introduced in 1979, followed by 500 and 1000 rupees in 1981, 200 rupees in 1998 and 2000 rupees in 2006. Sri Lankan banknotes are unusual in that they are printed vertically on the reverse. The 200 rupee note is printed on a polymer substrate. Banknotes are printed by the De la Rue Lanka Currency and Securities Print (Pvt) Ltd, a joint venture of the Government of Sri Lanka and De la Rue, a printing company in the United Kingdom. Notes currently in circulation are:

• 10 rupees
• 20 rupees
• 50 rupees
• 100 rupees
• 200 rupees (1998 polymer note still seen in circulation)
• 500 rupees
• 1000 rupees
• 2000 rupees (issued on 17 October 2006)

[edit] Banknote Series

• 1951 "King George VI"
• 1952 "Queen Elizabeth II"
• 1956 "Armorial Ensign of Ceylon"
• 1962 "S. W. R. D. Bandaranayake portrait"
• 1965 "Vignette of Parakramabahu, The Great"
• 1970 "S. W. R. D. Bandaranayake portrait"
• 1975 "Armorial Ensign of Sri Lanka"
• 1979 "Fauna and Flora"
• 1981 "Historical and Archaeological Theme"
• 1987 "Historical and Development Theme"
• 1991 "Sri Lanka Heritage"
• 1998 "50th Anniversary of Independence of Sri Lanka" (Commemorative 200 rupee polymer note)

[edit] 1952 Queen Elizabeth II

[edit] 1956 Armorial Ensign of Ceylon

[edit] 1965 Vignette of Parakramabahu, The Great

[edit] 1970 S. W. R. D. Bandaranayake portrait

[edit] 1977 Armorial Ensign of Sri Lanka

[edit] 1979 Fauna and Flora Series

2 Rupees

5 Rupees

10 Rupees

20 Rupees

50 Rupees

100 Rupees

[edit] 1981 Historical and Archaeological Theme

[edit] 1991 Heritage Series

The Heritage Series saw many revisions throughout its life since 1991. The 1995 revision had an enhanced latent image at the center bottom of obverse sides. The 2001 revision added wider metallic strip to the 500 and 1000 rupee notes.

[edit] See also

• Economy of Sri Lanka

[edit] References

[edit] External links

• Don's World Coin Gallery - Sri Lanka
• Ron Wise's World Paper Money - Sri Lanka ^{Mirror site}
• Tables of Modern Monetary Systems by Kurt Schuler - Asia ^{Mirror site}
• The Global History of Currencies - Sri Lanka
• Global Financial Data data series - Sri Lanka Rupee
• Global Financial Data currency histories table (Image:Crystal 128 kspread.png Microsoft Excel format)
• Ceylon & Sri Lanka Collectables - Banknotes & Coins
• Current Coins of Sri Lanka
• Ancient Coins of Sri Lanka
• Polymer Banknotes of Sri Lanka
• Medieval Coins of Polonnaruwa, Sri Lanka
• Dutch V.O.C coins of Ceylon
• The Sinhala copper coinage of the 12th to 15th centuries
• Early coinage of Sri Lanka

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