The Sri Lanka Rupee (LKR) is the official currency of Sri Lanka, an island country located in South Asia.
The currency is managed by the Central Bank of Sri Lanka, which is responsible for issuing and managing the nation’s money supply.
The currency code for the Sri Lanka Rupee is LKR, and the symbol commonly used is “Rs” or “රු” in Sinhala and “ரூ” in Tamil.
History of the Sri Lanka Rupee
The Sri Lanka Rupee was introduced in 1872, replacing the British Pound at a rate of 1 Rupee to 2 Shillings and 3 Pence.
Before the introduction of the Rupee, the country, known as Ceylon at the time, used various forms of currency, including Indian Rupees, British Pounds, and Ceylonese Rixdollars.
The currency’s name changed to the Sri Lanka Rupee after the country gained independence from British rule in 1948 and was subsequently renamed Sri Lanka in 1972.
Denominations and Subdivisions
The Sri Lanka Rupee is divided into 100 smaller units called cents.
Coins are issued in denominations of 1, 2, 5, and 10 Rupees, as well as 25 and 50 cents.
Banknotes are available in denominations of 10, 20, 50, 100, 500, 1,000, 2,000, and 5,000 Rupees.
The designs on the Sri Lanka Rupee coins and banknotes often depict the country’s cultural symbols, historical figures, and landmarks, reflecting the nation’s rich heritage and history.
Exchange Rates and Economy
The exchange rate of the Sri Lanka Rupee can fluctuate based on various factors, such as the nation’s economic performance, inflation, and supply and demand for the currency in international markets.
To find the current exchange rate between the Sri Lanka Rupee and other currencies, you can consult financial sources or use currency converter tools.
Sri Lanka’s economy is a mixed one, with contributions from various sectors, including agriculture, manufacturing, and services.
The country is well known for its tea, rubber, and coconut production, as well as its growing textile and apparel industry.
Tourism also plays a significant role in the economy, with the country’s rich cultural heritage and natural beauty attracting visitors from around the world.
Summary
The Sri Lanka Rupee is the official currency of Sri Lanka and is managed by the Central Bank of Sri Lanka.
It was introduced in 1872, replacing the British Pound.
The currency is subdivided into 100 cents, with coins and banknotes issued in various denominations.
Sri Lanka’s economy is a mixed one, with significant contributions from agriculture, manufacturing, services, and tourism sectors.