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.
History of the Sri Lanka Rupee
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 Later in 1856 the Treasury bills were withdrawn from circulation.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.
Notes and coins of the Sri Lanka Rupee in use
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
Did you know?
- Sri Lanka was the first country in the world to elect a woman President of the Government: Sirimavo Bandaranaike, elected in 1960.
- The Sri Lankans, like the Indians, wiggle their heads in a way that seems to mean "NO" when in reality ... they are saying "YES" !!!
- Due to the large number of waterfalls scattered throughout the country, most of Sri Lanka's electricity is powered by hydroelectric power.
Why changing currency with us is better than with your bank?
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|---|---|---|---|---|
| Variety of currencies | We have more than 70 currencies. We are specialists. | Only major currencies. Travel money is just a secondary business for banks. | ||
| Availability of currencies | Immediate availability of currencies in our branches. Click and collect or walk in to our stores. | The branch requests it from the head office and they can take a long time for having the currency available, or even not at all. | ||
| Expenses | Only the exchange rate, no commission, and if you book online you are guaranteed the best price. | The bank sets its own margin plus a commission. | ||
| Different denominations available | At Global Exchange, you’ll get a variety of banknotes with different values, adapted to all your payment needs. | No. Prepare for refusals and complaints in foreign languages when paying with «big» banknotes. | ||
| Delivery options | Order online to benefit from a price reduction and collect at the branch of your choice. | You’ll have to go first to your bank to order the currency you need, then wait for it to come and go back again to collect it. | ||
| Timetables | We are open 24 hours a day, 7 days a week. | Monday to Friday, from 8:30 am to 2:30 pm. | ||
| Anything else? | Airport collection on the day of your trip. All comfort. | Air-what? What miles are you talking about? No, sir. This is a bank, not an airline. |