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Constant discussions have been circulating stating that money have been newly printed and distributed under the current government. In each case, what has happened is not printing money but releasing money from the Central Bank’s cash reserves to the circulation in the country. Meanwhile, a misleading social media post was recently shared on social media regarding the issuance of a commemorative banknote with the President’s signature by the Central Bank. Here is a fact-check we conducted regarding it.
Social Media Posts :
A post was shared on social media showing a photo of a bank note with the signature of President Anura Kumara Dissanayake, stating, “When we said that the money was printed, we were asked to show a note signed by Anura if possible.”
The fact that money has been newly printed, recently which caused an inflation in the country was a matter of public debate. The above social media post also suggested that the shown currency note is such a newly printed note.
Fact Check :
When examining the image of the Rs. 2000 note circulating on social media, it was found that the currency note was issued by the Central Bank of Sri Lanka as a commemorative 2000 ruppee note for the circulation on 29th, to commemorate its 75th anniversary.
The Central Bank’s statement on the matter states that this banknote is the 5th commemorative banknote issued by the Central Bank of Sri Lanka in line with the anniversary theme of “Stability for Prosperity”, reflecting the Central Bank’s continued commitment to promoting economic stability as the foundation for national development.
The announcement stated that these notes are a limited issue of 50 million, and will be gradually released into circulation through licensed commercial banks. These notes are valid for the payment of any amount of value in Sri Lanka and are the responsibility of the Central Bank of Sri Lanka as long as the notes remain in circulation. The date of issue of these notes were stated as 2025.08.28. The Central Bank further stated the features of these notes as mentioned below.
The full announcement on this is here.
According to this announcement, it was clearly stated that the currency note would be gradually added to circulation through licensed commercial banks from 29th. Accordingly, it is confirmed that this new note, which bears the signature of the current President Anura Kumara Dissanayake, was not issued on 28th.
Commemorative coins and banknotes
The Central Bank of Sri Lanka has issued commemorative coins and banknotes since 1957 to commemorate various occasions.
These commemorative coins have been issued in two forms.
- Commemorative coins for circulation
- Commemorative coins not intended for circulation.
More information about this is here.
Commemorative notes previously issued by the Central Bank of Sri Lanka
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Notes with the President’s signature
About a week ago, former Governor of the Southern and Central Provinces Rajith Keerthi Tennakoon had stated on his Facebook page that the Central Bank of Sri Lanka had printed Rs. 1225.9 billion or Rs. 1.2 trillion from October 2024 to June 2025, violating the agreements with the International Monetary Fund. This post had misled many in society that the Central Bank had printed money. Here, money printing is interpreted as the expansion of the broad money supply (money printing – Broad money (M2b)) and not printing money with a machine. However, due to that statement, some people responded it stating that the government has indeed printed new money, while some other stated that is new money were printed in such a way, they should show them a currency note with the signature of the President, as evident.
One such Facebook comment is as follows.
Here are some other fact-checks we have done on the topic.
No, the Government Did Not Print Rs. 1.22 Trillion Since October 2024
Does the printing of commemorative coins/notes affect inflation?
The Central Bank of Sri Lanka has issued 50 million rupees worth of commemorative notes of Rs. 2000. In terms of the total money supply in Sri Lanka, this is a relatively small amount and since the total money supply is not a significant increase, there will not be an inflationary situation, said Professor of Economics Sirimal Abeyratne when we inquired.
Similarly, banknotes are gradually released into circulation through licensed commercial banks. This controlled distribution helps prevent sudden increases in the money supply, thereby contributing to price stability.
However, this note is being issued as part of the 75th anniversary celebrations of the Central Bank of Sri Lanka and is not intended to meet economic needs or increase the money supply in a way that would affect inflation.
When should the Central Bank of Sri Lanka print new banknotes?
The Central Bank of Sri Lanka should print new banknotes based on two factors. One is to replace banknotes that have become worn out and illegible during use, and to print banknotes in proportion to the country’s economic development. When the country’s production increases and the economy strengthens, the people need money to purchase those products. In such a situation, new banknotes are printed according to the country’s development. It is done on an accurate estimate and a scientific basis. More information on this is available here and here .
New Central Bank Act limits money printing
The new Central Bank Act severely limited the government’s ability to make requests to print money, and steps were taken to further make the Central Bank independent.
The opportunity to print money is granted only in the event of a special security problem in the country and a global health problem, and only an amount not exceeding 5% of the value of the treasury bills issued can be printed. An explanation by former State Minister Ranjith Siyambalapitiya in this regard is available here .
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Title:What is the currency note that was issued with the signature of the President?
Fact Check By: Fact Crescendo TeamResult: Misleading
