Maldivian Rufiyaa

About The Maldivian Rufiyaa: The Currency of Maldives

Quick Facts About the Maldivian Rufiyaa Notes

Country of Origin	Maldives
Symbol	Rf, MVR, ރ
Currency Code	MVR
Nick Names
Minor units	Maldivian Laari
Denominations (Banknotes)	Rf 10, Rf 20, Rf 50, Rf 100, Rf 500, Rf 1000
Motto
Issuing Bank	Maldives Monetary Authority
In Circulation Since	1947

The Maldivian rufiyaa is the currency of the Maldives. The issuance of Maldivian rufiyaa currency is regulated by Maldives Monetary Authority. There is more than one Maldivian rufiyaa symbol MVR and Rf but the most commonly used Maldivian rufiyaa symbol is Rf. The Maldivian rufiyaa is subdivided into 100 laari. The name rufiyaa is derived from the Hindi word rupiya or the Sanskrit word rupya. It replaced the Sri Lankan rupee and came into circulation in 1947.

The Maldivian Monetary Authority is the only issuer of the Maldivian rufiyaa currency and is responsible for making sure that currency demand is met adequately. The authority is also responsible for safeguarding the quality and integrity of Maldivian currency. That is why the authority oversees the whole life cycle of banknotes which involves issuing new banknotes, adding new security features, and printing and minting new coins and banknotes timely to ensure that the money circulation is secure against counterfeiting.

Maldivian rufiyaa price is different for various currencies. For example, 1 Maldivian rufiyaa to INR equals 0 🔄Indian rupees, 1 Maldivian rufiyaa to dollar equals 0.065 United State Dollars, 1 Maldivian rufiyaa to pkr equals 14.75 Pakistani rupees, and 1 Maldivian rufiyaa to pounds equals 0.054 Pound Sterling.

History of the Maldivian Rufiyaa

The very first Maldivian currency was cowry shells which were derived from sea snails. In the 1600s strips of silver were used with the earliest coins. The first coins were introduced by Sultan Ibrahim Iskandar. In the 17th and 18th centuries, Larin was imported and used as a currency for trading purposes. At that time Larin was also used as currency in India, Ceylon, and far eastern countries. The modern Maldivian rufiyaa came into circulation in 1947 replacing the Sri Lankan rupee at a value of 1 to 1. Initially, the change applied only to the rufiyaa's banknotes. Today the most common forms of rufiyaa are Rf 1, Rf 2, Rf 5, Rf 10, Rf 25, and Rf 50 denomination coins. Popular forms of rufiyaa banknotes are Rf 5, Rf 10, Rf 20, Rf 50, Rf 100, Rf 100, and Rf 500 denominations

Countries Accepting the Maldivian Rufiyaa

Amount in the Maldivian Rufiyaa You Should Carry for Your Trip

For a 7 days trip to the Maldives, you may need an average of Rf 50, 208 to Rf 58, 576. 1 Maldivian rufiyaa to Indian rupee equals 0 🔄 INR. It means one week's trip to Maldives may cost you between INR2, 70, 000 to INR 3, 15, 000. It includes airfare, transfers, meals, sightseeing and stays, etc. Maldivian rufiyaa is a non-convertible currency, you can not buy Maldivian rufiyaa in advance. Moreover, USD is accepted as a legal tender throughout the Maldives so if you are travelling from the US you do not need to visit the Maldivian rufiyaa currency exchange. If you carry US dollars anyhow, you can use them in the Maldives. If you are going to use USD for transactions, make sure you do not carry defaced or old notes because some businesses may not accept that. Also, the change you will get back will be Rufiyaa not dollars.

The Maldivian rufiyaa exchange rate depends on where you are exchanging your money. You can buy or sell Maldivian rufiyaa or exchange currency at the airport Bank of Maldives Foreign Exchange counter. This is dedicated to the foreign exchange counter only. You can also make transactions by using Maldivian rufiyaa forex cards, credit cards, or debit cards by paying some additional taxes. Before you head out for the Maldives make sure you check the live Maldivian rufiyaa rate and foreign exchange in order to get the best advice.