Sri Lanka Rupee
Currency

Introduction

Rupee is the Asian currency providing official currencies for seven Asian nations such as India, Indonesia, Pakistan, Sri Lanka, Bhutan, Nepal and Maldives, besides two African countries Mauritius and Seychelles. These currencies are symbolized as. “Rs” and “₨”, but the subunits may vary of different rupee currencies.
The Sri Lanka rupee currency is known as Sri Lankan rupee and is one among the three rupee currencies using “cent” as their subunit. The currency is in Tamil, their national language and is in existence since 1870.

However, it was recognized in 1941 as independent currency. The Sri Lankan rupee currency code is LKR and the numeric code is 144 as per ISO standards.

Value

In the recent years, Sri Lanka has encountered strong growth rates and is expeditiously one of the improving economies. The country followed liberalization policy and is based on domestic trade wholly as it lacks foreign investment directly. The garment sector is the biggest and is also a substantial revenue source.

The currency helps in gaining the edge over other competitors.

Sri Lankan rupee was pegged since it was launched to the US dollar, but in the year 2003, the currency floated the world market owing to poor perfomance of the economy.

The f Sri Lankan rupee value dipped soon, but within a short span it got its stability and is maintaining it.

Structure

Sri Lankan rupee has the popular subunit ‘cent’ and the denominations in the paper notes form are more than the coinage such that the notes are in 7 face values, while the coins are in 5 face values. These banknotes have distinctive pattern on the reverse side and they are not printed vertically.

There are lots of changes in pattern and design right from the time they produced. The designs have colorful expression of practices and culture in Sri Lanka.

The images on the banknotes vary for each denomination and also the colors such as 10 rupees has green color, 20 rupees –purple, 50 rupees – blue and 100 rupees has orange color. 500 rupees is light orange and purple, while 1000 rupees is light green and 2000 rupees is orange in color.