Central Bank issues new coins | Sunday Observer

Central Bank issues new coins

The Central Bank of Sri Lanka (CBSL) has issued coins with a face value of Rs.10, Rs. 5, Rs. 2 and Re.1 to reduce the cost of coin minting, increasing its durability, giving more portability and easy identification by visually impaired people. The first pack of coins was presented to Prime Minister and Minister of Finance and Economic Affairs, Mahinda Rajapaksa by Central Bank Governor Dr. Indrajit Coomaraswamy last week.

The coins will come into circulation from tomorrow through licensed commercial banks.

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 have been incorporated for easy identification of coins by visually impaired people.

Specification of the coins: The Rs.10 has a diameter of 26.4 mm, a thickness of 1.80 mm and the edge is round with eleven lobes. Rs. 5 coin: diameter 23.5 mm, thickness: 1.80 mm and the edge round and milled with regular indentations. Rs. 2 coin: diameter 22.0 mm, thickness 1.75 mm and the edge round and notched. Re. 1 coin: 20.0 mm; 1.75 mm and the edge round and intermittently milled.

The obverse side of the coins carry coins carry a common obverse design depicting the Armorial Ensign of Sri Lanka with the word ‘Sri Lanka’ in the English, Sinhala and Tamil at the periphery of the coins. The year 2017 is indicated at the bottom 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 at the center of the coins. A decoration of lotus petals appears around the periphery of the coins.