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The Bank of Ceylon was the first private bank to issue banknotes on the island (1844) and Treasury notes were withdrawn in 1856.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.
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 are 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
- 1948 "King George
- 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
 2 Rupees |  10 Rupees |  20 Rupees |  50 Rupees |
 100 Rupees |
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 | ||||||
|---|---|---|---|---|---|---|
| Obverse | 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 | |||
| 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 | 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 | ||||
