Lankarus

National Currency of Sri Lanka

Rupee of Sri Lanka, in Sinhalese: ශ්‍රී ලංකා රුපියල්, in Tamil: இலங்கை ரூபாய் is the currency of Sri Lanka, which is divided into 100 cents . The permission to issue rupees gives the Central Bank of Sri Lanka, it also issues rupees.
The rupee symbols are: රු and Rs..
Currency code: LKR

The Indian Rupee in Ceylon was officially established as a legal tender by the British Crown on June 18, 1869, and declared as an official method of payment in the country only on August 23, 1871. Thus, a rupee divided by 100 cents, became the currency of Ceylon. As the only legitimate means of payment on January 1, 1872, the rupee completely replaced the British currency in Ceylon .
Until 1962, notes of 1 rupee were issued on paper, and only in 1963 coins worth 1 rupee came to replace banknotes.
Since 1977, banknotes are issued only by the Central Bank of Sri Lanka. Denomination of 20 rupees was put into circulation in 1979. Banknotes worth Rs 500 and 1,000 were issued in 1981, Rs 200 in 1998, and Rs 2,000 in 2006.
Banknotes of Sri Lanka are unusual in that they are printed vertically on the reverse side.
In 1998, a banknote worth 200 rupees received a lot of comments about the degrees of protection, and new denominations of this denomination were issued, timed to coincide with the country's 50th anniversary of independence (1948-1998). These were the first polymer banknotes issued in Sri Lanka and printed in Australia. All banknotes are now printed in De La Rue Lanka Currency and Security Print (Pvt) Ltd, a joint venture of the government of Sri Lanka and De La Rue, whose printing shop is located in the UK.

In circulation in Sri Lanka coins worth:
Often used: 1, 2, 5, 10 rupees
Rarely used: 1, 2, 5, 10, 25, 50 cents

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Banknotes:
Frequently used: 20, 50, 100, 500, 1000, 5000 rupees
Rarely used: 10, 200, 2000 rupees

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In recent years, portraits of former prime ministers and ex-President Mahinda Rajapaksa on banknotes have not been used, and now they are decorated with national Sri Lankan characters, while the reverse sides of the notes depict the fauna and flora of Sri Lanka, as well as the landscapes of the country. More banknotes contain images of symbols of culture, history and achievements of Sri Lanka.

The Sri Lanka Rupee is one of the strongest and most stable currencies in the world . Average inflation in the country is no more than 0.1% per month. Indicators of trading in the dollar-rupee and dollar-euro pairs are almost in the same stable positions, beginning in 2012, not exceeding the annual corridor of 2-3 rupees for the dollar and euro. And this is one of the lowest rates in Asia and the recognized merit of the Central Bank of Sri Lanka.

Foreign tourists staying in Sri Lanka, can easily exchange dollars, euros, British pounds, as well as other freely convertible currencies, into rupees of Sri Lanka . At the same time, the amount of import of currency into a country that is not obligatory for declaration is equivalent to $ 10,000. Import of currency, exceeding the amount of $ 10,000, is subject to declaration at the customs office when crossing the border of Sri Lanka. A take away of the national currency of Sri Lanka from the country is prohibited .

Exchange foreign currency for rupees does not constitute any difficulty in any private or state bank. For the exchange, only the traveler's passport is required. After the exchange, you will receive a certificate from the bank, which must be kept with you until the end of your tourist trip.
In case you did not use all the rupee funds during your stay in the country, you can exchange rupees in any branch of the same bank at a very favorable rate back to the currency that you brought to Sri Lanka. Without a certificate from the bank about the primary exchange, the reverse operation does not guarantee you a favorable exchange rate of the rupee in dollars, euros or another currency. Save the exchange certificate in your interest.

Most tourists traditionally exchange foreign currency for rupees at Bandaranayake airport in Colombo or Mattala airport in Hambantota immediately after arriving to Sri Lanka. This is the most comfortable and profitable way for you.
However, if you have not exchanged the currency at the airport, then before the exchange operation inside the country, take an interest in the current exchange ratings in various banks closest to you. Exchange currency for rupees, only choosing for yourself the best exchange rate.

In recent years, citizens of the EU, USA, Canada, Australia and other countries increasingly come to Sri Lanka with their salary cards, debit and other types of cards, with cards of network communication salons, and actively use them, paying for a wide variety of goods and services with a minimum commission in Sri Lanka.
The majority of shops, shopping centers, supermarkets accept payment for electronic payment means — cards on Visa and Master Card systems. In this case, the commission for the transaction is minimal. We hear quite often the satisfied responses of our guests on this issue. Before the trip, ask your bank about the interest for the transaction on the part of your state.

If you are determined to use cash only, then please remember a few simple rules:

1. Please do not leave your money and payment cards unattended anywhere.
2. Use the safe if it is available in the hotel.
3. Give large sums, payment cards and jewelry under the responsible storage of the hotel administration.
4. Do not lose the receipt of acceptance-transfer of money, cards and jewelry.
5. Do not take out large bills or a bundle of banknotes and do not count them in public places at all in sight.
6. Always keep the minimum amount of cash you need.
7. Do not tell anyone the PIN code of your payment card, store your PIN-code in a place inaccessible to outsiders.

Simple rules of foresight will avoid misunderstanding or trouble in the financial matters of your journey.

Enjoy your stay in Sri Lanka!

Team of Lankarus Lanka Private Limited

info@lankarus.com

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