Currency and payments

The currency of the Maldives is the rufiyaa (MVR), but the US dollar is used so widely that you can almost treat it as a second local currency. In tourist areas you can usually pay directly in dollars, so there is no need to exchange all your money in advance. Over the past two years, places have also started accepting euros at a fairly good rate, though dollars still seem to be preferable.

An important note about dollar banknotes!

In the Maldives they are quite particular about dollars. They often refuse notes issued before 2006, as well as those with writing, stains, tears or heavy creases.

So bring the most recent issues you can, especially for hundred-dollar bills. Check their condition too — even a perfectly genuine note may be refused because of a little stain.

There are exceptions, particularly in Malé and Hulhumalé, where some shops and restaurants prefer rufiyaa or card payments. Sometimes prices in rufiyaa work out cheaper than those in dollars, so check the exchange rate they use. The official reference rate is 15.42 rufiyaa to the dollar, but exchange bureaux may offer a different rate.

Debit and credit cards are now accepted in many places. Even so, do not rely entirely on a card, especially on smaller islands and for excursions. In my experience, most places add 3–5% for card payments, so check beforehand. Locals explain that these are card-processing fees, rather than their own mark-up.

Do take a look at the Maldivian banknotes! They are exceptionally beautiful. Colours, drawings and scenes from island life — each is a little work of art. It is worth keeping at least one as a souvenir. Even a 1,000-rufiyaa one ;)

Personally, I exchange dollars for rufiyaa on the island and use those for everyday payments, while paying for accommodation in dollars.