![]() ![]() In 1963, a new coinage was introduced which omitted the monarch's portrait, depicting instead The Armorial ensign of Ceylon. 925 silver Rs. 5/- coins commemorating 2,500 years of Buddhism were issued. Coins with the portrait of King George VI continued to be in circulation after his death in 1952. Later 2c coins issued in 1957 were the only coins from this period to ever depict Queen Elizabeth II. The scalloped 10c coin replaced the silver 10c coin. In 1944, nickel-brass, scalloped shaped 2c and 10c coins were introduced. Nickel-brass replaced cupro-nickel in the 5c in the same year and replaced silver in the 25c and 50c in 1943. Production of the 1⁄ 2c ceased in 1940, with bronze 1c introduced in 1942 with reduced weight and thickness. 550.īetween 19, a wholesale change in the coinage was carried out. In 1919, the fineness of silver used was reduced from. The large, copper 5c coin was replaced in 1909 by a much smaller cupro-nickel coin which was square with rounded corners. In 1872, copper 1⁄ 4c, 1⁄ 2c, 1c and 5c coins dated 1870 were introduced, followed in 1892 by silver 10c, 25c and 50c. Coins ġ cent coin struck at the Royal Mint in 1870 The currency's exchange rate had plummeted to over Rs. 350/- = US$1 as of 29 April 2022. īy April 2022, political upheaval in Sri Lanka made the Sri Lankan rupee the world's "worst performing currency," according to the Financial Times. This Ordinance linked the Ceylon currency notes and the Indian silver rupees being mutually convertible at the office of the Currency Commissioners at a nominal par without any commission of one Ceylon rupee note to one Indian rupee coin. The Paper Currency Ordinance, established a currency board, the Board of Commissioners of Currency of Ceylon was established consisting of the Colonial Secretary of Ceylon, the Treasurer of Ceylon, and the Auditor-General of Ceylon. The Government of Ceylon, stepped in an enacted the Paper Currency Ordinance of 1884 which was based on a similar Ordinance in Mauritius in 1876. Thus, the rupee of 100 cents became Ceylon's money of account and sole legal tender effective 1 January 1872, replacing sterling at a rate of Re. 1/- equalling two shillings and three pence sterling.įollowing the Ceylon banking and monetary crisis of 1884, in which the largest exchange bank in the island, The Orient Bank experienced an acute liquidity shortage, resulting in a run on the other two exchange banks, Chartered Mercantile Bank and the Bank of Madras. The rupee was decimalized 23 August 1871. The Indian rupee was formally established as the unlimited legal tender 18 June 1869. The Bank of Ceylon was the first private bank to issue banknotes on the island (1844) and Treasury notes were withdrawn in 1856. However, payments were made in rupees and annas at the "fictitious par" (fixed accounting rate) of two shillings per rupee (i.e. The legal currency remained British silver and accounts were kept in pounds, shillings and pence. Sterling-denominated treasury notes continued to circulate after 1836, along with the rupee. The Indian rupee was made Ceylon's standard coin on 26 September 1836, and Ceylon reverted to the Indian currency area. Rixdollar notes not presented for exchange were demonetized in June 1831. Treasury notes denominated in sterling were issued in 1827, replacing the earlier rixdollar notes. Sterling became Ceylon's official currency in 1825, replacing the Ceylonese rixdollar at a rate of £1 = 13 + 1⁄ 3 rixdollars, and British silver coins were made legal tender. The abbreviation Re (singular) and Rs (plural) is generally used, the World Bank suggests SL Rs as a fully disambiguating abbreviation for distinction from other currencies named "rupee". It is issued by the Central Bank of Sri Lanka. ![]() It is subdivided into 100 cents, but cents are rarely seen in circulation due to its low value. The Sri Lankan Rupee ( Sinhala: රුපියල්, Tamil: ரூபாய் symbol: Re and Rs (plural) in English, රු in Sinhala, ௹ in Tamil ISO code: LKR) is the currency of Sri Lanka. ![]()
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