BEGINNING OF CURRENCY - SRI LANKA

BARTER SYSTEM..

What is a barter system?

A barter system is an old method of exchange. This system has been used for centuries and long before money was invented. Barter is a system under which goods and services are exchanged instead of currency, or the actual goods or services that are being exchanged and need not money.

Let's see what are the disadvatages of barter system..

• Lack of common measure of value.
• Difficulty in storing wealth.
• Indivisibility of goods.
• Lack of standard of deferred payment.
• Lack of double coincidence of wants.

CURRENCY'S HISTORY.. 

Sri Lanka is a country with a long history and a similarly long and rich economic history.    A study of that history will doubtlessly prove fruitful not only   for  economists but for everyone in the society. 

Coins used through different time periods of a country play an important role when studying the history of that country. Although small in size, a coin has the ability of giving a wealth of information about the economic and cultural history of the country where it was used, through signs that remain on them.

Sri Lanka’s currency-use can be divided into following periods. 
1. Anuradhapura Era 
Kahapana, swastika coins, maneless lion coins, lakshmi plaques, kahavanu or lankeshvara coins, forign coins.

   
Kahapana

Swasthika coins



2. Polonnaruwa to Kotte Era
Massa coins, Dambadeni coins/ coins of the middle ages, Lion coins, Cetu coins

Massa coin 1

Massa coin 2

Massa coin 3



3. Kandy Era

Agutu massa/ koku coins/ laarin, Dambadeni kasi, salli, Indian 'waragama', Tuttu, Panama, Tangama

Waragama coin




4. Colonial Era
Sri Lanka was colonized by the Portuguese, the Dutch and the English respectively.

Portuguese- Saint type coins (st.thome) gold,  Malakka silver, Ginimassa silver, panam (gold , silver), Tanga, Cruzado, Cakram, Laarins, Gold pagodi

Dutch- Rix Dollar, Coins from Zeeland, Coins from Utrecht, Coins from guilderland, Duits, Hollandaise coins, Coins from West Freaseland, Stuivers

Sri Lanka’s first series of banknotes was issued on the 10th of May, 1785.

                                                                                                                                                                      





British- Tharaka pagodi, British stuiver, Rix Dollar( silver coin-1825), Rupee(Indian Rupee), Duits, Farthing, Fanams, Half Rupee, Quarter Rupee

5. Post-Independence Period since Establishment of the Central Bank of Ceylon
One cent and Two cents (aluminium), Five cents and Ten cents (brass), Twenty-five cents and Fifty cents (Copper/Nickel),One rupee (Copper/Nickel)

Eleven series of currency notes issued by the Central Bank of Sri Lanka since 1950

CURRENT NOTES SERIES 

CURRENT COIN SERIES..