LKR - Sri Lankan Rupee

The Central Bank of Sri Lanka (CBSL) has the sole authority to regulate, manage, and issue the Sri Lankan rupee. Established in 1950, the CSBL replaced the old Currency Board system and has since been responsible for ensuring its stability. It formulates and implements the Sri Lankan monetary policy, controls inflation, and regulates the money supply.

The Sri Lankan Rupee was officially introduced on June 18, 1869, replacing the British sterling pound. The conversion rate was 1 Rupee = 2 shillings and 3 pence. The currency was decimalized on January 1, 1872, when it was subdivided into 100 cents, making it more well-suited for daily transactions. After Sri Lanka gained independence in 1948, the currency underwent further changes, with the official name Sri Lankan Rupee being adopted in 1972.

The Sri Lankan Rupee holds the credit to be the first vertical (portrait-oriented) banknote ever issued globally in 1998. They issued the Rs. 200 polymer banknote to commemorate the 50th anniversary of independence. Moreover, the Sri Lankan Rupee is well known for coming up with commemorative coins that come in unique shapes and designs, such as multi-sided coins, coins with scalloped edges, and instrument-shaped coins (particularly the one shaped like the traditional 'Ravanahatha', a stringed musical instrument).

The Rs abbreviation stands for Rupee, a term derived from the ancient Sanskrit word rūpya, meaning 'a coin of silver.'' The symbol's use is a tribute to Sri Lanka's historical connection to the ancient Indian currency system, which also used the term rupee. ​