Issuance of new circulation standard coin series

Wednesday, 28 November 2018 00:00 - - {{hitsCtrl.values.hits}}

The Central Bank of Sri Lanka (CBSL) has issued a new series of circulation coins with the face value of Rs. 10, Rs. 5, Rs. 2 and Rs. 1 with the objectives of reducing the cost of coin minting, increasing the durability of coins, giving more portability and being easily identifiable by visually impaired people.

The first coins pack was officially presented to Mahinda Rajapaksa, the disputed Prime Minister and Minister of Finance and Economic Affairs appointed by President Maithripala Sirisena, by Central Bank Governor Dr. Indrajit Coomaraswamy on 27 November.

The coins will be issued into circulation from 3 December 2018 through licenced commercial banks.

These new coins are circulated along with the existing coins of the same denominations issued earlier.

All four denominations of coins of the new series are made of stainless steel which is less expensive than other metals and more durable than plated coins. The diameter and thickness of the coins are resized to maintain a progressive pattern and the weight of the coins is reduced to give more portability. Further, different edges are incorporated for easy identification of coins by visually impaired people.