The Sri Lankan rupee ( ISO code: LKR), known until 1972 as the Ceylon rupee, is the currency of Sri Lanka. It is subdivided into 100 cents , but cents are rarely seen in circulation due to their low value. It is issued by the Central Bank of Sri Lanka. The abbreviation Re (singular) and Rs (plural) is generally used, the World Bank suggests SL Rs as a fully disambiguating abbreviation for distinction from other currencies named "rupee" The Bank of Ceylon was the first private bank to issue banknotes on the island (1844) and Treasury notes were withdrawn in 1856.
The Government of Ceylon introduced its first rupee banknote issue in 1885. A Rs. 5/- note (1885–1925) was followed by Rs. 10/- (1894–1926) and Rs. 1,000/- notes (1899 and 1915). A second issue included the Rs. 50/- (1914) and Rs. 100/- (1919) notes.