Mar 11, Colombo: The Central Bank of Sri Lanka has contracted three new companies to mint and supply coins for circulation in the country, the Central Bank said today in a statement.
The Central Bank has entrusted Mint of Finland of Finland, the Royal Dutch Mint of the Netherlands and Mincovna Kremnica of the Slovak Republic to mint and supply of circulation coins of denominations Rs.1, Rs.2, Rs.5 and Rs.10 during the period 2013-2015.
The Central Bank called for potential bidders last October to mint 550 million coins of different denominations to be supplied within a three year period, on a staggered basis starting from 2013.
The contract was to mint 175 million coins of Rs. 10 denomination, 100 million coins of Rs. 5 denomination and 275 million coins of Rs. 2 and Rs. 1 denominations.
The newly minted coins will be identical in design to the existing coins, the Bank said.
The new coins will be gradually added to the currency circulation during the period 2013 – 2015 to meet the public demand for coins.
Meanwhile, the Central Bank will also carry out a special coin collection scheme in order to gather the large quantities of currently idle coins, and issue those back into circulation.