|
Maldives Currency unit is the Rufiyaa. The monetary unit Rufiyaa was adopted in the year 1981 as the official currency of Maldives. Before the introduction of the Rufiyaa, the currency of Maldives was the Maldivian Rupee. One rufiyaa is constituted of 100 laaris.
Maldives currency notes are available in denominations ranging from Rf 500, 100, 50 to smaller ones like Rf 20, 10 and 5. The denominations of coins in the currency of Maldives are of Rf 1 and 2 as well as of 50, 25, 10, 5, 2, 1 laari. The exchange rate of Maldives currency varies from time to time.
The approximate currency exchange rate stands at 1 Maldive Rufiyaa equal to 0.07716 US Dollar or 1 US Dollar is equivalent to 12.96000 Maldive Rufiyaa. The steady decline of Maldives currency with regard to the US Dollar is one of the chief economic concerns of the island nation.
Most of the hotels, beach resorts, banks and shops of the islands provide services of currency exchange in Maldives. The services vary from island to island, depending on the development of a particular island. A majority of foreign currencies are accepted, the chief one being the US Dollar.
The credit and debit cards accepted by almost all places include Master Card, American Express, Visa, Diner's Card and Euro Card. The details of the facilities and charges as well as the acceptability of credit and debit cards vary and it is better to know all the terms and conditions of using them. Traveler's Cheques in US Dollars do not require any extra charge.
|
