Central Bank issues a new series of coins

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

The first coins pack was officially presented to the Prime Minister and Minister of Finance and Economic Affairs, Mahinda Rajapakse by Dr. Indrajit Coomaraswamy, Governor of CBSL on Tuesday (27 November).

The coins will be issued into circulation from 03 December 2018 through licensed commercial banks. These new coins are circulated along with the existing coins of the same denominations issued earlier, the CBSL said.

Features of the New Coin Series

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

Specification of the Coins

The Obverse Side of the Coins

The coins carry a common obverse design depicting the Armorial Ensign of Sri Lanka with the word “Sri Lanka” in English, Sinhala and Tamil languages at the periphery of the coins. The year 2017 is indicated at the bottom of the coins.

The Reverse Side of the Coins

The reverse of the coins depict the face value of the coins in large numerals and the value in words in Sinhala, Tamil and English languages at the center of the coins. A decoration of lotus petals appears around the periphery of the coins.

Meanwhile the Central Bank of Sri Lanka (CBSL) has also issued a circulation standard commemorative coin with the face value of Rs. 10 to mark the 75th Anniversary of Sri Lanka Signal Corps and to give due recognition for its service to the country over a period of 75 years.

The first coin was officially presented to the Prime Minister and Minister of Finance & Economic Affairs, Mahinda Rajapaksa by Dr. Indrajit Coomaraswamy, Governor of CBSL on Tuesday (27 November).

The coin will be issued into circulation through licensed commercial banks and can be used for payments along with existing other currency notes and coins in circulation.