Ceylon, British: Coins Issued and Used

The Indian rupee was made Ceylon's standard coin on 26 September 1836, and Ceylon reverted to the Indian currency area. Pound-denominated treasury notes continued to circulate after 1836, along with the rupee. The legal currency remained British silver and accounts were kept in pounds, shillings and pence. However, payments were made in rupees and annas at the "fictitious par" (fixed accounting rate) of 2 shillings per rupee (i.e., 1 pound = 10 rupees).

The Bank of Ceylon was the first private bank to issue banknotes on the island (1844) and Treasury notes were withdrawn in 1856.

The Indian rupee was formally established as the unlimited legal tender 18 June 1869. The rupee was decimalized 23 August 1871. Thus, the rupee of 100 cents became Ceylon's money of account and sole legal tender effective 1 January 1872, replacing British currency at a rate of 1 rupee = 2 shillings 3 pence.

The Rixdollar was the currency of British Ceylon until 1828. It was subdivided into 48 stivers, each of 4 duit. Units called the fanam and larin were also used, worth 4 and 9½ stiver, respectively. The currency derived from the Dutch rijksdaalder and stuiver, although the rijksdaalder was worth 50 stuiver. The rixdollar was replaced by the British pound at a rate of 1 rixdollar = 1 shilling 6 pence.

The Netherlands United East India Company (VOC) issued coins during the 18th century in denominations of  1⁄8 and 1 duit,  1⁄4, 1, 2 and  4 3⁄4 stuiver and 1 rixdollar.

After the British took over Ceylon, dump coins (crudely struck copper pieces) were introduced in 1801 retaining the Dutch denominations of  1⁄48,  1⁄24 and  1⁄12 rixdollar. In 1802, milled, copper coins for  1⁄192,  1⁄96 and  1⁄48 rixdollar were added, although the dump coins continued to be produced until 1816. Silver coins were introduced in 1803 for 24, 48 and 96 stivers.

In 1815, copper  1⁄2, 1 and 2 stuiver coins were issued, equal in value to the  1⁄96,  1⁄48 and  1⁄24 rixdollar denominations. Silver rixdollar coins were issued in 1821.