The coinage appears to have been initiated shortly before Rajaraja Chola invaded Lanka in 990 AD, and struck through the period when the Cholas dominated the island (1017-1070), and continued by closely similar coins struck for Vijayabahu (1055-1110) after he re-established Sinhala independence in 1070.
It is not certain whether the Kahavanu was introduced at Ruhuna, the region in the south of the island to which the Sinhala court had been obliged to move as a result of Rajaraja's conquests.
The left arm is bent and holds a flower or other object before the face; the right arm is extended with hand over a symbol consisting of a straight shaft with short cross pieces, ending in four prongs, which are narrow and curve upward and downward.
Infield to right, there is a Devanagari legend in three lines: Sri Lanka Vibu.
Types I and II are rarer and characterized by elaborate formations of the Sri, the fineness of the lettering, and the more sinuous lines of the body.