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Maldives Money
Maldives Money

The Maldivian unit of currency is the rufiyaa. Introduced in 1981, the rufiyaa replaced the Maldivian rupee. The rufiyaa is divided into 100 laari. Rufiyaah, is linked to the dollar at around 12.75 Rufiyaah to the dollar.

Most of the resorts and even the local island will accept US Dollars as payments too. Make sure that you are bringing them in small quantities like $1, $5 and $10. This doesnít mean that they do not accept any other currencies. Many of the larger resorts accept Euros, Sterling pounds, Yen and some other major currencies.

Currency Exchange

Currency Exchange in Maldives Foreign currencies and travellerís cheques can be exchanged at banks, bureaux de change and airports, railway stations, ports & major hotels in Maldives at the official exchange rates.

Bank

Never expect to find a bank or ATM machines at resorts or smaller local islands. Most of the small shops on local islands are unlikely to have machines to accept credit card payments for goods. It is always a good idea that you have enough cash with you when you need to go for shopping before you leave your resort. The Bank of Maldives PLC started its commercial operations with 60% of the shares owned by the government and the rest by the IFIC Bank. The primary business of the Bank comprised of retail banking. Its facilities also include on line banking. The infrastructure is up to date and fully computerized. The Bank of Maldives has around 17 branches across the country.

The Bank of Maldives PLC started its commercial operations with 60% of the shares owned by the government and the rest by the IFIC Bank. The primary business of the Bank comprised of retail banking. Its facilities also include on line banking. The infrastructure is up to date and fully computerized. The Bank of Maldives has around 17 branches across the country.

Banking Hours

Banking hours are Sunday-Thursday 08:00-13:30 hrs.

Credit cards

Major credit cards are accepted at most resorts and hotels. Most island  local and souvenir shops will also accept American Express, Diners Club, Master Card and Visa however arrangements vary from island to island.

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