The rupee of Sri Lanka
The rupee is the legal tender of Sri Lanka. A rupee is divided into 100 cents and its ISO code is LKR. The institution responsible for issuing the rupee is the Central Bank of Sri Lanka. Its abbreviation is Rs.
In 1825, Ceylon adopted the sterling pound to replace the Sinhalese rix dollar with an exchange rate of 1 GBP = 13⅓ rix dollars. In 1827 the Treasury issued bills denominated in pounds, to substitute the first denominated bills in rix dollars. In June 1831 the rix dollar bills that had not been exchanged for pounds were demonetized.
On September 26, 1836, Ceylon based its currency on the Indian rupee and the notes denominated in pounds continued circulating until 1836 next to the rupee. The monetary unit was still the pound, so the amounts were denominated in pounds, shillings and pennies. However, the payments were made in rupees, based on an unofficial rounding of 2 shillings per rupee.
In 1844 the Bank of Ceylon was the first private institution to issue banknotes on the island. Later in 1856 the Treasury bills were withdrawn from circulation. On June 18, 1869 the Indian rupee was formally established as the legal currency in Ceylon. On August 23, 1871, the rupee was decimalized. Thus, divided into 100 cents, became effective on January 1, 1872, replacing the British currency with an exchange rate of 1 rupee = 2 shillings with 3 pence.
Currently, 10, 20, 50, 100, 500, 1,000, and 2,000 rupees are in circulation
As for the coins, we can currently find them of 1, 2, 5, 10, 25, 50 cents and 1, 2, 5 and 10 rupeess
Date of issue:
On June 18, 1869
Central Bank of Sri Lanka.
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