The Maldivian currency is known as Rufiya, a Maldivian Rufiya is divided into 100 Larees. Coins and notes are currently used in the Malidives and the notes are produced in denominations of 500, 100, 50, 20, 10 Rufiya and rarely one might come across notes in the value of 5 and 2 Rufiyas. Coins are produced in the values of 2 and 1 Rufiyas and 50, 25 and 10 Larees. The exchange rate between the US Dollar and Rufiya never changes as the value of the Rufiya is pegged to the value of the US dollar.
Exchanging Money
Visitors to the Maldives could change dollars or any other major currency at any bank. However this is not essential because all resorts in the Maldives charge in US dollars. If one wishes to purchase goods or services from local providers visitors may need Rufiyas. A majority of the shops accept US dollars, however visitors may receive Rufiyas as change.
It is advisable to carry US dollars for tipping; however visitors should convert Maldivian Rufiyas to Dollars upon leaving the island.
Travellers Cheques
Travellers cheques are accepted at all banks in Male', most banks charge a commission of US$ 5 when changing US dollar travellers cheques to US dollars in cash. However if visitors change their travellers cheques to Maldivian Rufiya a commission will not be charged. After banking hours authorised money changers will exchange US dollars and Euro travellers cheques. Travellers cheques can be used to make payment at all hotels of the John Keells Hotels Group.
Credit Cards
Credit cards are accepted in all resorts and majority of the shops in Male'. MasterCard, Visa and Amex are all accepted in the Maldives, however when paying your bill at a resort the cashier may need 24 hours to check the guests credit. Many resorts apply a surcharge of 5% for all card payments.
ATM
ATM's are only found in the island of Male' and it is only a selected few ATM's that would allow visitors to withdraw funds from their international accounts. Such ATM's are located on Boduthakurufaanu Magu in Male', most of the major banks are located on this street.
