History of Sri Lankan Currency

     Sri Lanka’s currency-use can be divided into following periods.

1.         Anuradhapura Era
2.          Polonnaruwa to Kotte Era
3.          Kandy Era
4.           Colonial Era
5.           Post-Independence Period since Establishment of the Central Bank of Ceylon

Era	Coins used
1. Anuradhapura Era The Anuradhapura Kingdom named for its capital city, was the first established kingdom in ancient Sri Lanka. Founded by King Pandukabhaya in 377 BC. Epigraphs reveal a multitude of Information about trade and currency use during the Anuradhapura era. These records suggest that the production and distribution of coins were done systematically. At the time, the director in charge of coin production was known as “Rupadaka” (Periyakada Vihara Epigraph). The official who authorized the produced coins was known as “Rupawaapara”. (Kaduru Wewa Epigraph)	Kahapana Swastika coins Maneless Lion coins Lakshmi Plaques Kahavanu or Lankeshvara coin
2. Polonnaruwa to Kotte Era The period covers the kingdoms of Polonnaruwa 1017-1070, 1070-1232, Dambadeniya 1232 – 1272, Yapahuwa 1272-1293, Kurunegala 1293-1340, Gampola 1341- 1374 and Kotte (Sithavaka 1521-1593) 1372-1597. Kings of Chola dynasty that ruled from 1017 – 1070 A.D, issued a “Kahawanu” that was similar to a “Kahawanu” that was minted in the last half of the Anuradhapura era. It was made of copper. A unique characteristic of these coins was that each one bore the name of the king in power at the time of its production. This was the first coin produced in the country that bore the name of the ruler.	Massa Coins         Dambadeni Coins /   Coins of the Middle Ages         Lion Coins         Cetu Coins
3. Kandy Era Kandy was the last capital of the Sinhala monarchy. Kandyan Kingdom which was founded about 1474, remained an independent kingdom until the “Hill Country Agreement” dated March 2nd, 1815 was signed transferring Sri Lanka’s autonomy to the British. The Portuguese and Dutch established in the maritime areas in the 16th – 18th Centuries i.e. during Kandyan era. According to historical texts, a few different types of currency were in use during in the heyday of the Hill Country Kingdom also known as “Sinhale”.	Angutu Massa/Koku         Coins/ Laarin   Dambadeni kasi   Salli   Indian ‘Waragama’   Tuttu  Panama  Tangama
4. Colonial Era Even though we divided Sri Lanka’s past into eras such as Anuradhapura, Polonnaruwa and Kandy; in all those eras, the entirety of Sri Lanka was never governed by one King. In different instances, the island was invaded by foreign powers. However, until the Kotte Era, the only invaders were the Chola. Despite such instabilities, we were able to make profits through international trade (via the Silk Road), win praise and maintain our splendid international reputation. But in 1453 A.D, the situation changed as a consequence of the fall of Constantinople (Capital of the Byzantine Empire). Europeans began to seek a route to the East over the great ocean. Eventually, the Europeans were victorious in the East and the West. As a result, Sri Lanka was colonized by the Portuguese, the Dutch and the English respectively.	Portuguese Period :         Saint type coins (St.             Thome)- Gold         Tanga          Malakka - Silver                   Cruzado         Ginimassa - Silver                Cakram          Panam (Gold/Silver)             Laarins         Gold Pagodi     Dutch Period :      Rix Dollar             Duits      Coins from Zeeland           Hollandaise coins      Coins from Utrecht            Coins from West                 freaseland      Coins from Guilderland       Stuivers      First Bank Note British Period :      Tharaka Pagodi                  Farthing       British Stuiver       Fanams      Rix Dollar (Silver coin         - 1825) Half Rupee      Rupee (Indian Rupee)        Quarter Rupee      Duits

Ø  In 1939 and 1940, The Board of Commissioners issued subsidiary notes for the values of 5 cents, 10 cents, 25 cents, 50 cents and 1 rupee. Of these notes, the 5 cents carried imprints of postage stamps of 2 cents and 3 cents.

  Ø  In addition to these subsidiary notes, the Board of Commissioners issued notes worth 1 rupee, 2 rupees, 5 rupees, 10 rupees, 50 rupees, 100 rupees, 500 rupees, 1,000 rupees and 10,000 rupees. The 10,000 rupee currency note was used only for inter bank transactions.

  Ø  The Central Bank of Ceylon was established on 28th August 1950 in terms of the Monetary Law Act No. 58 of 1949. The Monetary Law Act provided for establishment of a Monetary Board to administer, among other things, the issue of currency, which included both notes and coins.

Eleven series of currency notes issued by the Central Bank of Sri Lanka since 1950 are as follows;

King George VI series	1 and 10	1951
Queen Elizabeth II series	1, 2, 5, 10, 50 and 100	1952
Armorial Ensign of Ceylon series	1, 2, 5, 10, 50 and 100	1956
S W R D Bandaranaike Portrait series	2, 5, 10 ,50 and 100	1962
King Parakramabahu the Great series	2, 5, 10 ,50 and 100	1965
Armorial Ensign of Sri Lanka series	50 and 100	1975
Fauna and Flora Series	2, 5, 10, 20 ,50 and 100	1979
Historical and Archaeological series	5, 10, 20, 50, 100, 500 and 1000	1981
Sri Lanka Heritage series	10, 20, 50, 100, 500, 1000	1991,2000,2005
Development, Prosperity and Sri Lankan Dancers series	20, 50, 100, 500, 1000, and 5000	2011