Sri Lanka issues smaller stainless steel coins
ECONOMYNEXT – Sri Lanka’s central bank had issued a smaller set of stainless steel coins which are cheaper and can also be identified by blind persons.
The new coins will come into circulation from December 03, 2018 through commercial banks. They will circulate with existing coins.
A set of coins had been presented to Mahinda Rajapaksa, who has been appointed Prime Minister and Finance Minister by President Maithripala Sirisena in Sri Lanka disputed move.
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.
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.