Marking its 70th anniversary, the Central Bank is planning to issue a commemorative coin of Rs. 20 and a new currency note of Rs. 2,000 under the existing 11th note series in 2020.
Security features will also be further upgraded in the existing 11th currency notes series. To provide the required coins and notes for transactions, particularly in remote areas, a mechanism 31 for coin management is being developed with the assistance of Regional Offices (ROs).
To restore and preserve old coins and currency notes, we intend to establish a laboratory unit at the Economic History Museum (EHM), while improving the content and the condition of the mobile currency museum, enabling the dissemination of a wider range of information to a larger audience
The Central Bank’s role in this area emanates from its being the sole authority to issue currency notes and coins in Sri Lanka.
Notwithstanding the increased use of technology driven non-cash modes of payment, demand for currency notes and coins has been continued to increase in 2019 in line with the expansion of economic activity.
Under the clean note policy, the Central Bank strictly implemented the legal provisions in the Monetary Law Act against willful alteration, defacement or mutilation of currency notes.
There was, as a result, a notable improvement in the quality of currency notes in circulation.
Awareness programmes conducted with the support of Sri Lanka Police have helped to educate the public, financial institutions and Cash–in–Transit Companies (CITs) on the clean note policy and prevented willful defacement of currency notes..
(LI)