New coin series to be issued into circulation from next week

coins

Nov 28, 2018 (LBO) – Central Bank of Sri Lanka issued a new series of circulation coins with face values of Rs.10, Rs.5, Rs.2 and Rs.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 Rajapaksa by Dr. Indrajit Coomaraswamy, Governor of the Central Bank yesterday.

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 Central Bank said 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. Different edges are incorporated for easy identification of coins by visually impaired people.