Ceylon & Sri Lanka Stamps Banknotes Coins, Sri Lanka Rupee (2)

Collection of Banknotes, Stamps and Coins for Sri Lanka (& Ceylon before 1972). Collectors items related to Sri Lanka Rupee. The British pound became Ceylon's official money of account in 1825, replacing the Ceylonese rixdollar at a rate of 1 pound = 13 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 The Bank of Ceylon was the first private bank to issue banknotes on the island (1844) and Treasury notes were withdrawn in 1856.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. Today in Sri Lanka there are coins in the denominations of 1, 2, 5, 10, 25, 50 cents and 1, 2, 5, 10 Rupees. There are banknotes in the denominations of 10, 20, 50, 100, 200, 1000 and 2000 Rupees.