LKR (Sri Lankan Rupee)

AAA

DEFINITION of 'LKR (Sri Lankan Rupee)'

The currency symbol for the Sri Lankan rupee (LKR), the currency for the Democratic Socialist Republic of Sri Lanka (Ceylon prior to 1972), an island nation off the southern coast of India. The Sri Lankan rupee is made up of 100 cents and is often presented with the symbol Rp. or Rs., in the form Rp. 50 for 50 rupees.

The rupee can also be presented with SLRp. or SLRs., rather than Rp. or Rs., to differentiate it from other currencies denominated in rupees.

INVESTOPEDIA EXPLAINS 'LKR (Sri Lankan Rupee)'

The Sri Lankan rupee was first established in 1869, replacing the British pound at an amount equal to the Indian rupee (1 rupee to 2 shillings, 3 pence), and was a decimal currency from 1871. As inflation devalues the currency, new banknotes are released (for example, in 2006 a 2000 rupee note was issued), and although older Sri Lankan (and Ceylon) banknotes and coins remain legal tender, older and smaller notes and coins are rarely seen in circulation.

RELATED TERMS
  1. Currency

    A generally accepted form of money, including coins and paper ...
  2. Quote Currency

    The second currency quoted in a currency pair in forex. In a ...
  3. Base Currency

    The first currency quoted in a currency pair on forex. It is ...
  4. Forex Futures

    An exchange-traded contract to buy or sell a specified amount ...
  5. Forex - FX

    The market in which currencies are traded. The forex market is ...
  6. Currency Pair

    The quotation and pricing structure of the currencies traded ...
Related Articles
  1. Forex Education

    Currency Exchange: Floating Rate Vs. Fixed Rate

    Baffled by exchange rates? Wonder why some currencies fluctuate while others are pegged? This article has the answers.
  2. Chart Advisor

    Use This ETF To Trade The Swiss Franc

    Traders were stunned last week when the Swiss National Bank removed the currency peg that tied the value of the Swiss franc to the euro.
  3. Economics

    Sanctions & Falling Oil Prices Hit Ruble Hard

    Russia, through its aggressive actions, has brought upon itself sanctions which, coupled with falling oil prices, have adversely impacted its economy.
  4. Economics

    What is the difference between a nation's current account deficit and its currency valuation?

    Learn the respective meanings of the two terms, current account deficit and currency valuation, and understand the relationship between them.
  5. Forex Strategies

    How do I use the Haurlan Index to create a forex trading strategy?

    See how the three components of the Haurlan index can be used by forex traders to assess the strength of buyers and sellers for a currency pair.
  6. Forex

    Bitcoin's Main Stumbling Block: Navigating The Law

    Coders created Bitcoin to be decentralized and independent of governments and banks. Authorities are still struggling to create a legal framework.
  7. Investing Basics

    The Most Popular Bitcoin Mining Software

    Success at mining bitcoins depends on the combination of time, knowledge, computer hardware and the complementary software.
  8. Forex Education

    Who are cambrists and how do I become one?

    Discover what a cambrist is, why they are important to exchange markets and what skills you should possess if you are interested in becoming one.
  9. Trading Strategies

    Can forex currency pairs exhibit consolidation patterns?

    Learn how forex currency pairs exhibit recognizable consolidation patterns. These patterns offer traders the opportunity to place low-risk, high-reward trades.
  10. Forex

    Ways To Earn Bitcoins

    There are many ways to earn and own Bitcoins other than just buying them on a Bitcoin exchange.

You May Also Like

Hot Definitions
  1. Portfolio Turnover

    A measure of how frequently assets within a fund are bought and sold by the managers. Portfolio turnover is calculated by ...
  2. Commercial Paper

    An unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories ...
  3. Federal Funds Rate

    The interest rate at which a depository institution lends funds maintained at the Federal Reserve to another depository institution ...
  4. Fixed Asset

    A long-term tangible piece of property that a firm owns and uses in the production of its income and is not expected to be ...
  5. Break-Even Analysis

    An analysis to determine the point at which revenue received equals the costs associated with receiving the revenue. Break-even ...
  6. Key Performance Indicators - KPI

    A set of quantifiable measures that a company or industry uses to gauge or compare performance in terms of meeting their ...
Trading Center