Sri Lankan rupee

Infobox Currency
currency_name_in_local = ශ්‍රී ලංකා රුපියල si icon
இலங்கை ரூபாய் ta icon
image_1 = LKR50F.jpg
image_title_1 = 50-rupee note
image_2 = Bc0039 5r 2005.jpg
image_title_2 = 5-rupee coin
iso_code = LKR
using_countries = LKA
inflation_rate = 13.7%
inflation_source_date = " [https://www.cia.gov/library/publications/the-world-factbook/fields/2092.html The World Factbook] ", 2006 est.
subunit_ratio_1 = 1/100
subunit_name_1 = cents
symbol = ₨ or Rs (possibly also SL₨s or SLRs)
frequently_used_coins = 25, 50 cents, Rs. 1, Rs. 2, Rs. 5
rarely_used_coins = 1, 2, 5, 10 cents
used_banknotes = Rs. 10, Rs. 20, Rs. 50, Rs. 100, Rs. 500, Rs. 1000, Rs. 2000 [cite web |author=Nachthund |date=2006-11-19 |url=http://www.nachthund.biz/CatalogUpdate/SriLanka/SriLankaIndex.html |title=Update - Sri Lanka. |accessdate=2007-02-19]
issuing_authority = Central Bank of Sri Lanka
issuing_authority_website = www.cbsl.lk
printer = De la Rue Lanka Currency and Securities Print (Pvt) Ltd
printer_website = www.delarue.com
mint = Royal Mint, United Kingdom
mint_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 ₨ (though SL₨ may occasionally be used for disambiguation).

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The Bank of Ceylon was the first private bank to issue banknotes on the island (1844) and Treasury notes were withdrawn in 1856.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

1956 "Armorial Ensign" of Ceylon

1977 "Armorial Ensign" of Sri Lanka

ee also

* Economy of Sri Lanka

References

*numis cite SCWC | date=1991
*numis cite SCWPM | date=1994

External links

Standard numismatics external links
world_coin_gallery_1_url = Ceylon
world_coin_gallery_1_name = Sri Lanka
banknote_world_1_url = sri_lanka
banknote_world_1_name = Sri Lanka
dollarization_1_url = asia
dollarization_1_name = Asia
gfd_1_url = Sri_Lanka
gfd_1_name = Sri Lanka
gfd_data_1_url = 4024
gfd_data_1_name = Sri Lanka Rupee
show_gfd_excel = Y
* [http://collect.ceylanka.net Ceylon & Sri Lanka Collectables - Banknotes & Coins]
* [http://lakdiva.org/coins/srilanka/srilanka.html Current Coins of Sri Lanka]
* [http://lakdiva.org/coins/main.html Ancient Coins of Sri Lanka]
* [http://www.polymernotes.org/country_pages/LKA.htm Polymer Banknotes of Sri Lanka]
* [http://www.polonnaruwa.org/coins/vijayabahu-kahavanu.html Medieval Coins of Polonnaruwa, Sri Lanka]
* [http://lakdiva.org/coins/dutch/ Dutch V.O.C coins of Ceylon]
* [http://www.members.tripod.com/ceylonweb/copper_massas.htm The Sinhala copper coinage of the 12th to 15th centuries]
* [http://www.tranquebar.dk/ceylonramme.htm Early coinage of Sri Lanka]
* [http://www.cbsl.gov.lk/info/03_about/a_8.htm Currency Museum - Central Bank of Sri Lanka]
* [http://www.lankapuvath.lk/index.php?option=com_content&task=view&id=2300&Itemid=76 Sri Lanka’s second Money Museum to be opened in Anuradhapura] Template group
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