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Author Topic: Sri Lanka Changes Composition of Rs 1 and Rs 5 Coins  (Read 63 times)

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Offline Bimat

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Sri Lanka Changes Composition of Rs 1 and Rs 5 Coins
« on: March 14, 2017, 05:25:15 AM »
Sri Lanka adds value to coins

Mar 14, 2017 05:26 AM GMT+0530

ECONOMYNEXT - Sri Lanka's Central Bank said it will issue new one and five rupee coins made out of stainless steel, instead of the current steel coins plated with brass.

"The edge lettering of the Rs5 coin has been removed in the new stainless steel coin," the bank said in a statement.

"All other specifications including dimensions and designs of the abovementioned coins will remain the same at the Rs1 coin and Rs5 coin that have been issued since 2005."

Some on Rupee brass-plated coins were known to discolour quickly, according to users. Stainless steel is a chromium alloy that is resistant to corrosion.

The Central Bank did not say when the new coins will come into circulation. (COLOMBO, March 13, 2017)

Source: Economy Next
Caution. The low-hanging fruits are still there maybe for a reason.