Historic Panamanian Balboa Sri Lankan rupee

16/12/2016: Demonetization of 50 Rupee Note

The 50 Rupee banknote was demonetized, leading to widespread confusion and inconvenience as people rushed to exchange their old notes.

01/01/2011: Replacement of Paper Banknotes with Polymer Banknotes

Panama replaced the paper banknotes with polymer banknotes to enhance durability and security of the Balboa currency.

01/01/2010: Decimalization of Rupee

The Rupee was decimalized, with the introduction of coins denominated in cents, replacing the previous system of cents represented as a fraction of a Rupee.

17/08/2005: Series of New Banknotes

A new series of banknotes featuring improved security features and a more vibrant design was introduced to combat counterfeiting.

01/06/2001: Introduction of 10 Rupee Coin

The 10 Rupee coin was introduced, replacing the 10 Rupee banknotes, to reduce the cost of production and improve durability.

31/03/1983: Currency Control Law Implemented

Panama implemented a currency control law to regulate the use and circulation of the Balboa and prevent counterfeiting.

01/07/1977: Floating Exchange Rate

Sri Lanka shifted to a floating exchange rate regime, allowing the value of the Rupee to fluctuate based on market forces.

22/05/1972: Ceylon becomes Sri Lanka

The country changes its name from Ceylon to Sri Lanka, and the currency is renamed Sri Lankan Rupee (LKR).

22/06/1966: Introduction of the Ceylon Rupee

The Ceylon Rupee was established as the official currency of Sri Lanka, replacing the Indian Rupee at a rate of 1:2.

15/10/1941: First Issue of Panamanian Balboa Banknotes

The first series of paper banknotes denominated in Balboa were issued by the Panamanian Currency Board.

01/10/1941: Introduction of the Balboa as Legal Tender

The Panamanian government introduced the Balboa as a legal tender, equivalent in value to the US dollar.

01/10/1908: Creation of Panamanian Currency Board

The Panamanian Currency Board was established to issue paper money and stabilize the monetary system.

01/01/1907: Use of US Dollar in Panama

The US dollar became the official currency of Panama due to the presence of American workers during the canal construction.

18/11/1904: Panama Canal Construction Begins

The construction of the Panama Canal started, which would later lead to the need for a national currency.