Friday, July 19, 2024

Sri Lankan Rupee (LKR)

Sri Lankan 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 country’s currency supply.

The currency code for the Sri Lankan rupee is LKR, and the commonly used symbols are “Rs” or “රු” in Sinhala and “ரூ” in Tamil.

History of Sri Lanka Rupee

The Sri Lankan rupee was introduced in 1872, replacing the British pound at an exchange rate of 1 rupee to 2 shillings and 3 pence.

Before the introduction of the rupee, the country then known as Ceylon used various forms of currency including Indian rupees, British pounds, and Ceylon rix dollars.

After the country gained independence from British rule in 1948, the currency was renamed the Sri Lankan rupee, and in 1972 it was renamed Sri Lanka.

Denominations and Breakdowns

The Sri Lankan Rupee is divided into 100 smaller units called cents.

Coins are available in denominations of 1, 2, 5 and 10 rupees, as well as 25 and 50 cents.

Notes are available in denominations of Rs 10, 20, 50, 100, 500, 1,000, 2,000 and 5,000 rupees.

The graphics on Sri Lankan rupee coins and banknotes often depict the country’s cultural symbols, historical figures and landmarks, reflecting the country’s rich heritage and history.

Exchange rate and economy

The Sri Lankan Rupee exchange rate may fluctuate based on various factors, such as the country’s economic performance, inflation, and the supply and demand for the currency in the international market.

To find current exchange rates between Sri Lankan Rupee and other currencies, you can consult a financial source or use a currency conversion tool.

Sri Lanka’s economy is a mixed economy with various sectors such as agriculture, manufacturing and services contributing.

The country is famous for its tea, rubber and coconut production, as well as its growing textile and clothing industry.

Tourism also plays an important role in the economy, with the country’s rich cultural heritage and natural beauty attracting tourists from all over the world.

Summary

The Sri Lankan Rupee is the official currency of Sri Lanka and is administered by the Central Bank of Sri Lanka.

The

was introduced in 1872, replacing the British pound.

Currency is broken down into 100 cents, with coins and banknotes issued in various denominations.

Sri Lanka’s economy is a mixed economy, with agriculture, manufacturing, services and tourism making significant contributions.

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