Sri Lanka, formerly Ceylon, is a South East Asian country. Its primary export is tea. Its currency, the rupee, trades under the initials LKR. In this system, 100 cents equal 1 rupee.
History
Sri Lanka had coinage as early as the 2nd and 3rd centuries B.C. These were imported punch-marked silver coins from India. There were also some local coins in the Indian style. The earliest were large and round bearing Indian symbols on both sides. Others are the “Laskshmi plaques.” This coinage features the goddess Laksmi stands on the front while the reverse has a symbolic tree with the foliage creating the form of a swastika. None have an inscription.
Roman coins made it to the country in the 4th century A.D. These bronze coins arrived in large quantities, possibly the result of trade. The country adopted and copied them. This process of imitation continued well into the 5th and 6th centuries. The Kingdom of Sri Lanka did not produce local coins until the 9thand 10th. This copper currency featured Hindu designs with common Indian symbols of fish, lions, bulls and vases.
The 11th century saw the release of a new coinage. They, too, had Indian designs, adopting the standing king and sitting goddess of the Chola Dynasty. In addition, there was an inscription: “Lord of Sri Lanka.” This pairing of the King and Goddess continued down into the late 13th century. The next innovation in this process saw the addition of the royal name to the coins in the later 11th century.
The 14th
century saw a Tamil issue with the King featured with a reclining bull.
There were also in circulation Iranian and Egyptian Islamic currency.
This was to change with the arrival of the Portuguese in the 16th
century. Portuguese and Indian coinage provided the mixture in
circulation during this time.
The Portuguese slowly extended their
control over the country. By the 17th century, they were striking coins
at Colombo. The mint closed, but minting continued for Sri Lanka at the
Goa mint in India. This only lasted until the Dutch eventually took
over. Originally countermarking the Portuguese and other coinage, the
Dutch East India Company soon had copper coin issued for local use.
Until the mid-17th century, however, coins within the country included
Portuguese Indian, Spanish Mexican, Malaccan, Iranian and Chinese. The
coins frequently appeared with countermarks. There were also coins from
the Dutch settlements in Indonesia as well as from Venice and the
Netherlands.
The Dutch East Indies began to stamp coins on both sides for local use. This was the first time coins had been stamped on each side in Sri Lanka. By 1782, they made further advancements in the production of currency. Some of the coins were of the type called “bonks.” These came from bars of chopped-up Japanese copper.
The rupee became part of the money of the country in 1784. It circulated just in time for the seizure of the colony by the British. British coinage began to appear stamped with the words “Ceylon government” in 1801.The sources were both the British and local mints. The old rixdollars vanished and the new coins featured an elephant on the front with the denomination on the reverse. In 1816, a new portrait of King George III graced the coins. During this period, there was a surface acceptance of the rupees but the British did not manufacture them for circulation. In 1872, the name “Ceylon” reappeared, on coins denominated according to the rupee system of currency.
The British rupee and cent system of currency remained active until 1951, 4-years beyond independence. Non-British coins did not become the official currency until 1963. The coins featured a lion with the Buddhist Wheel of the Law. Further adjustments came with the creation of the Republic of Sri Lanka in 1972. The same designs and denominations remained but the name of the country changed.
Since 1972, the currency has adjusted according to economic forces. Today, the currency features both coins and banknotes in rupees and cents. Coins consist of 1, 2, 5, 10, 25 and 50 cents and 1, 2 and 5 rupees. Banknotes come in denominations of 10, 20, 50, 100, 500, 1,000 and 2,000 rupees.
Obtaining Sri Lankan Rupees
You can exchange your money for rupees in many places in the country. The banks and moneychangers are plentiful in the urban centers, particularly in Colombo and Hikkaduwa. You can also locate ATMs in the larger cities and tourist centers.
Protecting Your Currency
Crime is a severe problem in Sri Lanka. Violent crime is on the increase. While tourists are not the specific target, they do get caught in the overall political unrest and violent eruptions. Petty crime remains an issue. Petty crimes such as pickpocketing and purse snatching are common on public systems of transportation. Take the usual precautions. Do not visit remote regions without an official and reputable guide.
Using Your Sri Lankan Rupees
The local currency is handy. This is particularly true when the machines shut down and you cannot use credit cards. Use cash to purchase such traditionally Sri Lanka things as tea. Sri Lanka is also famous for its gems. Buy rings and bracelets. Spice is another option.
Travel Tips and Warnings
- Be aware of the existence of mines in the north and east. Do not travel off the main routes.
- If you head towards the north of the country be advised you require authorization. In some cases, the military prohibits travel to certain areas.
- You might want to consider visiting Colombo with its Dutch Period Museum, National Museum and the Buddhist Temple of Raja Maha Vihara.
- Adam’s Peak is a place of pilgrimage.
- In Anuradhapura, you can see the Sri Maha Bodhi tree.
- There are many well-preserved, chambers and palaces in Palonnaruwa.
- Do not forget to go to the Pinnewala Elephant Orphanage. This is a reminer of the problems facing the elephant population.
- Kandy is a hill town around an immense artificial lake.It is home to the venerated temple “Dalada Maligawa. The temple has a relicof Buddha, a tooth.
- There is the 5th century fortress at Sigiriya, the southern coast beaches and Yala National Park.
Overview
The
former country of Ceylon, Sri Lanka is now embroiled in ongoing
political struggles against the Liberation Tigers of Tamil Eelam. While
it is still accessible, it is not currently a peaceful regime.
For travel information, see www.srilankatourism.org.
Currency Summary
Current currency: Rupees
100 cents equal 1 rupee
Coins: 1, 2, 5, 10, 25 and 50 cents; 1, 2 and 5 rupees
Banknotes: 10, 20, 50, 100, 500, 1,000 and 2,000 rupees.