Seychellois rupee | |||
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roupie seychelloise (French) | |||
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ISO 4217 code | SCR | ||
User(s) | Seychelles | ||
Inflation | 7.5% | ||
Source | Central Bank of Seychelles, January 2008 est. | ||
Subunit | |||
1/100 | cent | ||
Symbol | SR or SRe | ||
Coins | 1, 5, 10, 25 cents, 1, 5 rupees | ||
Banknotes | 10, 25, 50, 100, 500 rupees | ||
Central bank | Central Bank of Seychelles | ||
Website | www.cbs.sc |
The rupee is the currency of the Seychelles. It is subdivided into 100 cents. In the local Seychellois Creole (Seselwa) language, it is called the roupi. The international currency code is SCR. The abbreviations SR and SRe are sometimes used.[1][2]
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The Seychelles rupee was introduced in 1914. Initially in banknote form only, the Seychellois rupee circulated alongside and was equal to the Mauritian rupee, which had circulated in the Seychelles since 1877. The Mauritian rupee had replaced sterling, which had circulated since 1810. Only in 1939 were coins introduced specifically for use in the Seychelles.
Until 2008, the value of the Seychelles rupee was tied to a currency basket comprising 59 percent euros, 31 percent U.K. pounds and 10 percent U.S. dollars.[3] The currency was freely floated on November 2, 2008, promptly sinking 43% to 19.97 per euro on the first day of trading.[3]
In 1939, coins in denominations of 10 and 25 cents, ½ and 1 rupee were introduced. The 10 cents was a new denomination minted in cupro-nickel, whilst the other three denominations were the same sizes as the Mauritian coins but were minted in a lower fineness of silver (.500). In 1948, bronze 1, 2 and 5 cents coins were introduced. The coins were the same size as the Mauritian coins and very similar in design.
In 1951, cupro-nickel replaced silver in the 25 cents. Further changes were made in 1953 and 1954, when a twelve-sided, nickel-brass 10 cents was introduced, followed by cupro-nickel ½ and 1 rupee. In 1972, aluminium 1 and 5 cents were introduced (following the last issue of 2 cents in 1968) along with cupro-nickel 5 rupees.
In 1982, a new coinage was introduced, consisting of brass 1, 5 and 10 cents and cupro-nickel 25 cents, 1 and 5 rupees. The 1 cent coin was last minted in 1997.
In 1914, the government produced emergency issues of notes for 50 cents, 1, 5 and 10 rupees. Regular type notes began to be issued in 1918, with notes for 50 cents and 1 rupee, followed by 5, 10 and 50 rupees in 1928. The 50 cents and 1 rupee notes were issued until 1951. 20 and 100 rupees notes were introduced in 1968, whilst the 5 rupee notes were replaced by coins in 1972.
In 1979, the Seychelles Monetary Authority took over the issuance of paper money, issuing notes for 10, 25, 50 and 100 rupees. These denominations were also issued by the Central Bank of Seychelles when it took over responsibility in 1983. In 2005, 500 rupees notes were introduced.
Current SCR exchange rates | |
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From Google Finance: | AUD CAD CHF EUR GBP HKD JPY USD |
From Yahoo! Finance: | AUD CAD CHF EUR GBP HKD JPY USD |
From OzForex: | AUD CAD CHF EUR GBP HKD JPY USD |
From XE.com: | AUD CAD CHF EUR GBP HKD JPY USD |
From OANDA.com: | AUD CAD CHF EUR GBP HKD JPY USD |
Preceded by: Mauritian rupee Reason: became a separate crown colony in 1903 Ratio: at par |
Currency of Seychelles 1914 – |
Succeeded by: Current |
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