Foreign exchange guide to Maldives and the Maldivian rufiyaa
What's in this Maldives currency guide?
The official currency of Maldives (country code: MV) is the Maldivian rufiyaa, with symbol .ރ and currency code MVR.
The Maldivian rufiyaa (MVR) is the official currency of the Maldives, an island nation located in the Indian Ocean. Here are a few things to know about the Maldivian rufiyaa:
Save money and time by Ordering your Maldivian rufiyaa online from Travelex, you get better rates and can pick up the MVR cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Maldivian rufiyaa otherwise you may get much worst exchange rates.
Maldives is a tropical nation in the Indian Ocean composed of 26 atolls, which are made up of hundreds of islands. It's known for its beaches, blue lagoons and extensive reefs. The capital, Malé, has a busy fish market, restaurants and shops on the main street, Majeedhee Magu, and 17th-century Hukuru Miskiy (also known as Old Friday Mosque) made of coral. Male' is also home to the Grand Friday Mosque.
The best things to do in Maldives include relaxing on the pristine beaches, exploring the underwater world, and spending time in the capital city of Male.
-When travelling to Maldives, it is important to remember that the country is made up of a large number of small islands. This means that transport options are limited and most visitors will need to take a boat or plane to reach their destination.
-Maldives is a Muslim country and visitors should respect local customs and traditions. Dress modestly when visiting mosques and other religious sites.
-The best time to visit Maldives is between December and April when the weather is dry and sunny. The monsoon season runs from May to November and can see heavy rains and strong winds.
-Maldives is an expensive destination and visitors should budget accordingly. Accommodation, food and activities will all cost more than in other parts of the world.
-There are no ATMs on many of the smaller islands in Maldives so visitors should bring enough cash to last their entire trip. US dollars are widely accepted.
-Most visitors will need to apply for a tourist visa before travelling to Maldives. This can be done online or at the Maldives Embassy.
Yes. Maldives is a very safe and secure destination. There is a minimal crime rate and the police force is very efficient.
The domestic currency in Maldives is the Maldivian rufiyaa.
The three letter currency code for the Maldivian rufiyaa is MVR — symbol is .ރ.
It is the domestic currency in   Maldives.
No, the Maldivian rufiyaa is freely available and convertible. See guide: What is a closed currency?
|$ 1||.ރ 15.36|
|$ 5||.ރ 76.80|
|$ 10||.ރ 153.60|
|$ 20||.ރ 307.20|
|$ 50||.ރ 768.00|
|$ 100||.ރ 1,536|
|$ 250||.ރ 3,840|
|$ 500||.ރ 7,680|
|$ 1,000||.ރ 15,360|
|$ 2,000||.ރ 30,720|
|$ 5,000||.ރ 76,800|
|$ 10,000||.ރ 153,600|
|$ 20,000||.ރ 307,200|
|$ 50,000||.ރ 768,000|
|$ 100,000||.ރ 1,536,000|
|$ 0.0651||.ރ 1|
|$ 0.3255||.ރ 5|
|$ 0.6510||.ރ 10|
|$ 1.3021||.ރ 20|
|$ 3.2552||.ރ 50|
|$ 6.5104||.ރ 100|
|$ 16.28||.ރ 250|
|$ 32.55||.ރ 500|
|$ 65.10||.ރ 1,000|
|$ 130.21||.ރ 2,000|
|$ 325.52||.ރ 5,000|
|$ 651.04||.ރ 10,000|
|$ 1,302||.ރ 20,000|
|$ 3,255||.ރ 50,000|
|$ 6,510||.ރ 100,000|
To get a good (and fair) exchange rate when sending money to Maldives you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
When sending money to Maldives it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Maldivian rufiyaa deposited into the recipient bank account and less margins and fees kept by the banks!
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
By following these tips and managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Maldives.
The cost of living in Maldives is relatively high. Expenses such as food, transportation, and housing can be expensive. However, the cost of living can vary depending on the city and island you choose to live on.
The expat life in Maldives is full of adventure. There are many things to do and see in Maldives. The people are friendly and the weather is perfect.
It is against the law to import, sell, or consume alcohol in Maldives. It is also against the law to wear bikinis or other revealing clothing in public.
The Maldives are an archipelago of several thousand islands located in the Indian Ocean. They are a democratic republic, and the government is stable. The economy is largely dependent on tourism, and most businesses are geared towards serving tourists. The business environment is generally favorable, but there are some challenges, such as infrastructure constraints and a lack of skilled labor.
The economy in Maldives is service-based with a few natural resources. The majority of the GDP comes from tourism, with about 1.4 million visitors each year. The country also has a fishing industry and some agriculture. The per capita GDP is about $12,000.
Here we list some key points for expats and businesses to consider when managing financial dealings in Maldives:
Understand Maldivian rufiyaa currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the MVR exchange rate and consider using a currency exchange service or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local Maldivian rufiyaa bank account: A local MVR bank account can make it easier for you to manage your finances and pay bills while you are in Maldives. It may also be more convenient to use a local MVR bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Maldives. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in Maldives. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in Maldives, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.