Sri Lankan rupee

Sri Lankan rupee
ශ්‍රී ලංකා රුපියල (Sinhala)
இலங்கை ரூபாய் (Tamil)
One rupee Coin Sri Lankan rupee New Bank Notes
ISO 4217 code LKR
User(s)  Sri Lanka
Inflation 3.5%
Source The World Factbook, 2007 est.
Subunit
1/100 cents
Symbol රු, Rs, /=
Coins
Freq. used 25, 50 cents, Rs.1, Rs.2, Rs.5, Rs.10
Rarely used 1, 2, 5, 10 cents
Banknotes Rs.10, Rs.20, Rs.50, Rs.100, Rs.500, Rs.1000, Rs.2000, Rs.5000
Central bank Central Bank of Sri Lanka
Website www.cbsl.gov.lk
Printer De la Rue Lanka Currency and Securities Print (Pvt) Ltd
Website www.delarue.com
Mint Royal Mint, United Kingdom
Website www.royalmint.com

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

Contents

History

The British pound became Ceylon's official money of account in 1825, replacing the Ceylonese rixdollar at a rate of 1 pound = 13⅓ rixdollars, and British silver coin was made legal tender. Treasury notes denominated in pounds were issued in 1827, replacing the earlier rixdollar notes. Rixdollar notes not presented for exchange were demonetized in June 1831.

The Indian rupee was made Ceylon's standard coin 26 September 1836, and Ceylon reverted to the Indian currency area. Pound-denominated treasury notes continued to circulate after 1836, along with the rupee. The legal currency remained British silver and accounts were kept in pounds, shillings and pence. However, payments were made in rupees and annas at the "fictitious par" (fixed accounting rate) of 2 shillings per rupee (i.e., 1 pound = 10 rupees).

The Bank of Ceylon was the first private bank to issue banknotes on the island (1844) and Treasury notes were withdrawn in 1856.

The Indian rupee was formally established as the unlimited legal tender 18 June 1869. The rupee was decimalized 23 August 1871. Thus, the rupee of 100 cents became Ceylon's money of account and sole legal tender effective 1 January 1872, replacing British currency at a rate of 1 rupee = 2 shillings 3 pence.

Coins

In 1872, copper ¼, ½, 1 and 5 cents coins dated 1870 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.

On 5 April 2010 Sri Lanka replaced the 10-rupee note with a coin.

Current Coins of Sri Lanka
Image Value Obverse Reverse Metal Dimensions Weight Thickness Year
25 cents Country name, date and value Armorial Ensign Copper plated Steel 16.0 mm 1.68 g 1.2 mm 2005
50 cents 18.0 mm 2.5 g 1.4 mm
One rupee Brass plated Steel 20.0 mm 3.65 g 1.7 mm
Two rupees Nickel-plated Steel 28.5 mm 7.0 g 1.5 mm
Five rupees Brass plated Steel 23.5 mm 7.7 g 2.7 mm
Ten rupees Nickel-plated Steel 26.4 mm (Hendecagon) 8.36 g 2.1 mm 2009

Commemorative coins

The Central Bank of Sri Lanka has issued commemorative coins since 1957.

On December 15, 2010, to mark the 60th Anniversary, the Central Bank of Sri Lanka issued a Frosted Proof crown size multi-colour silver commemorative coin in the denomination of Rupees 5000. It was the first multi-colour coin issued by the Central Bank.

Commemorative coins issued by the Central Bank of Sri Lanka:

Commemorative Coins of Sri Lanka
Image Value
(Rs.)		 Description Obverse Reserve Diameter/Size
(mm)		 Metal Weight
(Grams)		 Year
5 2500th Anniversary of the passing away of Buddha (Buddha Jayanthi) 38.61 Silver (0.925) 28.28 1957
1 2500th Anniversary of the passing away of Buddha (Buddha Jayanthi) 28.50 Copper
Nickel		 11.31 1957
2 2nd World Food Congress 31.50 Copper
Nickel		 12.35 1968
5 5th Non-Aligned Summit Conference 32.84 Nickel 13.60 1976
2 5th Non-Aligned Summit Conference 30.00 Copper
Nickel		 13.50 1976
1 1st Executive Presidency (J. R. Jayawardhane) 24.50 Copper
Nickel		 7.13 1978
1 1st Executive Presidency (J. R. Jayawardhane) 24.50 Gold
22 Caret		 12.00 1978
5 50 Years of Universal Adult Franchise 29.0 / 30.28 Copper
Nickel		 9.60 1981
2 The Mahaweli Development Scheme 28.50 Copper
Nickel		 8.25 1981
5 International Year of Shelter for the Homeless 25.0 - 30.0 Copper
Nickel		 11.70 1987
500 40th Anniversary of Central Bank of Sri Lanka 38.61 Silver 28.28 1990
100 5th South Asian Federation Games - Colombo 22.0 - 29.4 Silver 10.20 1991
500 5th South Asian Federation Games - Colombo 14 Gold
12 Caret		 1.6 1991
1 3rd Anniversary of Induction of Excective Presidency - R. Premadasa 25.40 Copper
Nickel		 7.13 1992
500 2300 Anubudu Mihindu Jayanthi 38.61 Silver 28.28 1993
5 50th Anniversary, United Nations 23.50 Ni / Br 9.50 1995
5000 50th Anniversary of Sri Lanka regaining Independence 22.05 Gold (22 Caret) 7.98 1998
1000 50th Anniversary of Sri Lanka regaining Independence 38.61 Silver 28.28 1998
10 50th Anniversary of Sri Lanka regaining Independence Outer ring 27.0 Inner disc 18.0 Bi Metal Outer ring Cu/Ni Inner dics Ni/Br 9.00 1998
1000 Wining of the 1996 Cricket World Cup 38.61 Silver 28.28 1999
5 Wining of the 1996 Cricket World Cup 23.50 Ni / Br 9.50 1999
1 50th Anniversary of Sri Lanka Army 25.40 Nickel plated Steel 7.13 1999
1000 50th Anniversary Central Bank of Sri Lanka 38.61 Silver 28.28 2000
1000 50th Anniversary of Sri Lanka regaining Independence 38.61 Silver 28.28 1998
1 50th Anniversary of Sri Lanka Navy 25.40 Cu-Ni 7.13 2000
1 50th Anniversary of Sri Lanka Air Force 25.40 Cu / Ni 7.13 2000
2 50th Anniversary of the Colombo Plan 28.50 Cu / Ni 8.25 2000
5 250th Anniversary of Syamopasampadawa (Weliwita Sri Saranankara Sangaraja Mahimi) 23.50 Ni / Br 9.50 2003
1500 2550th Anniversary of the passing away of Buddha 38.61 Silver (0.925) 28.28 2006
2000 2550th Anniversary of the passing away of Buddha 38.61 Silver (Selective Gold Plated) 28.28 2006
5 2550th Anniversary of the passing away of Buddha 23.50 Br plated Steel 9.50 2006
1000 Cricket World Cup 2007 (Runner up) 32 Ni plated Steel 12 2007
5 Cricket World Cup 2007 (Runner up) 28.50 Brass plated Steel 7.00 2007
1000 50th Anniversary of Employee's Provident Fund Commemorative Coin 28.50 Nickel Plated Steel (Brilliant un Circulated) 7.00 2008
2 50th Anniversary of Employee's Provident Fund Commemorative Coin 28.50 Nickel Plated Steel 7.00 2008
200 Sri Lanka Customs Commemorative coin Silver 10.50 2008
1000 60th Anniversary of the Sri Lanka Army 28.50 Silver 11.90 2009
1000 60th Anniversary of the Sri Lanka Army 28.50 Cu-Ni 8.25 2009
5000 60th Anniversary Central Bank of Sri Lanka[1] Central Bank Crest A tree depicting the growth and the stability of Sri Lanka's economy 38.61 Silver 28.28 2010
2 60th Anniversary of the Sri Lanka Air Force[2] Logo of Sri Lanka Air Force in the centre. An artist's impression of a Chipmunk aircraft appears below the logo and another three aircraft; Mig 27, C 130, and MI 24 appear above the logo. Two (face value) in large numerals and the words "Two Rupees" in Sinhala, Tamil and English appear across the face value. 28.5 Nickel plated steel 7 2 March 2011

Banknotes

Portraits of former Sri Lankan prime ministers and the incumbent president Mahinda Rajapakse have graced the fronts of Sri Lankan bank notes, while the backs have featured Sri Lankan fauna and flora, Sri Lankan landscapes and industries, and images depicting Sri Lankan culture, history, and achievements.

In 1895, the Government of Ceylon introduced its first paper money in the form of 5 rupee notes. These were followed by 10 rupee notes in 1894, 1000 rupee notes in 1899, 50 rupee notes in 1914, 1 and 2 rupee notes in 1917 and 100 and 500 rupee notes 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 rupee notes. These were followed in 1952 by 2, 5, 50 and 100 rupee 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. In 2011, a series is to be issued to commemorate the country's 60th anniversary.

Heritage series

The Heritage Series saw many revisions throughout its life since 1991 up to 2010. 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.

Current series

On February 4, 2011, The Central Bank of Sri Lanka (CBSL) issued a new series of currency notes on the theme “Development, Prosperity and Sri Lanka Dancers” for circulation.[3] This is the 11th series of currency notes of the Central Bank to be issued. The new series consists of six denominations Rs. 5,000, Rs. 1,000, Rs. 500, Rs. 100, Rs. 50 and Rs. 20.[4] The high value Rs. 5000 note issued for the first time in the history of the Central Bank is being introduced to facilitate expansion in transactions that has taken place with the growth of Sri Lanka's economy.

Current Series in Circulation (Development, Prosperity and Sri Lanka Dancers)
Obverse Reverse Value Dimensions Color Printed Date Issued Date
20 rupees 128 x 67 mm Maroon January 1, 2010 February 4, 2011
50 rupees 133 x 67 mm Blue January 1, 2010 February 4, 2011
100 rupees 138 x 67 mm Orange January 1, 2010 February 4, 2011
500 rupees 143 x 67 mm Purple January 1, 2010 February 4, 2011
1000 rupees 148 x 67 mm Green January 1, 2010 February 4, 2011
5000 rupees 153 x 67 mm Gold January 1, 2010 February 4, 2011

On 5 April 2010 Sri Lanka replaced the 10 rupee note with a coin.[5]

Current Series in Circulation
Obverse Reverse Value Dimensions Color Printed Date Issued Date
10 rupees Green

1 January 1991
1 July 1992
19 August 1994
15 November 1995
12 December 2001
10 April 2004
19 November 2005
20 rupees 128 X 63 mm Purple
50 rupees Blue
100 rupees 143 X 71 mm Orange As above, without the 1994 revision
500 rupees Light Orange and Purple
1000 rupees 158 X 79 mm Light Green 1 January 1991

1 July 1992
15 November 1995
12 December 2001
10 April 2004
1 July 2004
19 November 2005
3 July 2006
2000 rupees Orange 19 November 2005 17 October 2006

Former series

King George VI series
Image Value Dimensions Color Obverse Reverse Printed Date Issued Date Watermark
One Rupee 1951
10 Rupees 1951
Queen Elizabeth II Series
Image Value Dimensions Color Obverse Reverse Printed Date Issued Date Watermark
One Rupee Light Blue 1952
2 Rupees 1952
5 Rupees 1952
10 Rupees 1952
50 Rupees 1952
100 Rupees 1952
Armorial Ensign of Ceylon Series
Image Value Dimensions Color Obverse Reverse Printed Date Issued Date Watermark
One Rupee Light Blue 5 June 1963 1956
2 Rupees 1956
5 Rupees 1956
10 Rupees 1956
50 Rupees 1956
100 Rupees 1956
S. W. R. D. Bandaranayake Portrait Series
Image Value Dimensions Color Obverse Reverse Printed Date Issued Date Watermark
2 Rupees 1962
5 Rupees 1962
10 Rupees 1962
50 Rupees Purple, Light Green 1974 1962
100 Rupees 1962
Vignette of Parakramabahu, The Great Series
Image Value Dimensions Color Obverse Reverse Printed Date Issued Date Watermark
2 Rupees Vignette of Parakramabahu 1965
5 Rupees Red Vignette of Parakramabahu 27 August 1974 1965
10 Rupees Green Vignette of Parakramabahu 7 June 1971 1965
50 Rupees Vignette of Parakramabahu 1965
100 Rupees Vignette of Parakramabahu 1965
Armorial Ensign of Sri Lanka Series
Image Value Dimensions Color Obverse Reverse Printed Date Issued Date Watermark
50 Rupees Light Purple Armorial Ensign Terraced hillside 26 August 1977 1975
100 Rupees Light Purple, Gray Armorial Ensign 1977 1975
Fauna and Flora Series
Image Value Dimensions Color Obverse Reverse Printed Date Issued Date Watermark
2 Rupees Red 26 March 1979 1979
5 Rupees Grey 26 March 1979 1979
10 Rupees Light Green 26 March 1979 1979
20 Rupees Ash, Light Blue 26 March 1979 1979
50 Rupees Light Blue 26 March 1979 1979
100 Rupees Yellow 26 March 1979 1979
Historical and Archaeological Theme Series
Image Value Dimensions Color Obverse Reverse Printed Date Issued Date Watermark
5 Rupees Red 1 January 1982 1981
10 Rupees Green Temple of the Sacred Tooth Relic 5 April 1990 1981
20 Rupees Purple Moonstone 5 April 1990 1981
50 Rupees Blue 1 January 1982 1981
500 Rupees Light Brown 1 January 1981 1981
1000 Rupees Light Green Dam Peacock, Mountains 1 January 1981 1981

Commemorative notes

Commemorative Banknotes of Sri Lanka
Obverse Reserve Value Description Color Dimensions Printed Date Issued Date Material Year
200 Rupees 50th Anniversary of Sri Lanka regaining Independence Blue 146.5 x 73.0 mm polymer 1998
1000 Rupees The ushering of peace and prosperity to Sri Lanka Blue 157 X 78.5 mm 20 May 2009 17 November 2009[6] paper 2009

Exchange rate

Current LKR exchange rates
From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD INR
From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD INR
From OzForex: AUD CAD CHF EUR GBP HKD JPY USD INR
From XE.com: AUD CAD CHF EUR GBP HKD JPY USD INR
From OANDA.com: AUD CAD CHF EUR GBP HKD JPY USD INR

See also

References

  1. ^ "Commerative coin to mark the 60th anniversary of the Central Bank of Sri Lanka". Central Bank of Sri Lanka. 2010-12-14. http://www.cbsl.gov.lk/pics_n_docs/latest_news/press_20101214eb.pdf. Retrieved 2010-12-19. 
  2. ^ "CBSL issues commemorative coin". Daily News. 2011-03-09. http://www.dailynews.lk/2011/03/09/bus36.asp. Retrieved 2011-03-09. 
  3. ^ The Central Bank of Sri Lanka (February 3, 2011). "Issue of a New Series of Currency Notes by the Central Bank of Sri Lanka". http://www.cbsl.gov.lk/pics_n_docs/latest_news/press_20110203ec.doc. Retrieved February 4, 2011. 
  4. ^ "Sri Lanka issues a New Series of Currency Notes". The Official Government News Portal of Sri Lanka. 5 February 2011. http://news.lk/home/17304-sri-lanka-issues-a-new-series-of-currency-notes. Retrieved 12 February 2011. 
  5. ^ "Sri Lanka replaces 10-rupee note with coin". Banknote News. 2010-04-05. http://banknotenews.com/files/230fa502bdb45ba71dd23976d44d87d7-1072.php. Retrieved 2011-02-12. 
  6. ^ "Sri Lanka new 1,000-rupee commemorative confirmed". Bank note News. 2009-12-19. http://www.banknotenews.com/files/tag-sri-lanka.php. Retrieved 2010-11-04. 

External links