Sri Lankan rupee Totally Explained

Everything about Sri Lankan Rupee totally explained

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).

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   The Bank of Ceylon was the first private bank to issue banknotes on the island (1844) and Treasury notes were withdrawn in 1856.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

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			Copper plated Steel	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

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)

Commemorative Coins of Sri Lanka
Image	Value	Description	Obverse	Reserve	Dimensions	Weight	Year
	5 Rupees	Buddha Jayanthi					1957
	100 Rupees	South Asian Games					1991
	500 Rupees	South Asian Games					1991
	One Rupee	Sri Lanka Army					1999
	1000 Rupees	Cricket World Cup					1999
	1000 Rupees	50th Anniversary Central Bank					2000
	One Rupee	President Premadasa					1991
	1000 Rupees	Independence					1998
	One Rupee	Sri Lanka Navy					2000
	500 Rupees	Mihindu Jayanthi					1993
	5 Rupees	50th Anniversary, United Nations					1995
	500 Rupees	40th Anniversary Central Bank					1990

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're 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)

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)

1952 Queen Elizabeth II

1952 Queen Elizabeth Series
Image		Value	Dimensions	Color	Obverse	Reverse	Printed Date	Issued Date	Watermark
		One Rupee		Light Blue			1952

1956 Armorial Ensign of Ceylon

1956 Series
Image		Value	Dimensions	Color	Obverse	Reverse	Printed Date	Issued Date	Watermark
		One Rupee		Light Blue			1963

1965 Vignette of Parakramabahu, The Great

1965 Series
Image	Value	Dimensions	Color	Obverse	Reverse	Printed Date	Issued Date	Watermark
	5 Rupees		Red			1974
	10 Rupees		Green			1971

1970 S. W. R. D. Bandaranayake portrait

1965 Series
Image		Value	Dimensions	Color	Obverse	Reverse	Printed Date	Issued Date	Watermark
		50 Rupees		Purple, Light Green			1974

1977 Armorial Ensign of Sri Lanka

1977 Series
Image		Value	Dimensions	Color	Obverse	Reverse	Printed Date	Issued Date	Watermark
		100 Rupees		Light Purple, Gray			1977

1979 Fauna and Flora Series

1981 Historical and Archaeological Theme

1981 Series
Image	Value	Dimensions	Color	Obverse	Reverse	Printed Date	Issued Date	Watermark
	5 Rupees		Red			1982
	10 Rupees		Green			1990
	20 Rupees		Purple			1990
	50 Rupees		Blue			1982
	500 Rupees		Light Brown			1981
	1000 Rupees		Light Green			1991

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.

Current Series in Circulation
Observe	Reverse	Value	Dimensions	Color	Printed Date	Issued Date
		10 rupees		Green	January 1, 1991 July 1, 1992 August 19, 1994 November 15, 1995 December 12, 2001 April 10, 2004
		20 rupees		Purple
		50 rupees		Blue
		100 rupees		Orange	As above, without the 1994 revision
		500 rupees		Light Orange and Purple
		1000 rupees		Light Green
		2000 rupees		Orange	November 19, 2005	17 October 2006

Further Information

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