What Currency Is Used in the Maldives?

The Maldives uses the Maldivian Rufiyaa (MVR), though US dollars are widely accepted. Learn how the currency works and how to manage your money.

What currency is used in the Maldives?

If you’re planning a luxury escape to the Maldives, booking a resort stay, or arranging travel through a local provider, it’s essential to understand the country’s currency system. This guide is written for tourists, travel agents, and international service providers. We’ll explain what currency is used in the Maldives, how it works, and how to manage it effectively while avoiding common money mistakes.

Maldives’ official currency: the Maldivian Rufiyaa (MVR)

The official currency of the Maldives is the Maldivian Rufiyaa, abbreviated as MVR and commonly symbolised as Rf or ރ. The word rufiyaa is derived from the Sanskrit rupyakam, similar to the origins of the Indian rupee.

  • Currency code: MVR

  • Symbol: Rf / ރ

  • Subunit: 1 rufiyaa = 100 laari

The Maldives Monetary Authority (MMA) is the central bank responsible for issuing and regulating currency in the country.

Denominations in circulation

  • Coins: 1, 2, 5, 10, 25, and 50 laari; 1 and 2 rufiyaa

  • Banknotes: Rf10, Rf20, Rf50, Rf100, Rf500, and Rf1,000

Banknotes feature images of Maldivian marine life, heritage, and Islamic architecture, with modern polymer notes introduced in 2015.

Where the rufiyaa is used

The Maldivian rufiyaa is the only official legal tender used across the Maldives’ 1,000+ inhabited and resort islands. All government, domestic, and retail transactions are conducted in MVR.

That said, US dollars (USD) are widely accepted, especially in:

  • Tourist resorts and hotels

  • Liveaboards and high-end excursion providers

  • Domestic airlines and ferry ticket offices

  • Some larger restaurants and souvenir shops in Malé

However, change is often given in MVR, and prices in local shops and cafés are listed in rufiyaa, particularly in the capital and non-resort islands.

How the Maldivian rufiyaa works

The rufiyaa operates under a managed float exchange rate. It is unofficially pegged to the US dollar, with a typical fixed reference rate of:

  • 1 USD = 15.42 MVR

This rate may vary slightly depending on where you exchange currency, but the peg has remained relatively stable over time.

Benefits and considerations of using MVR

Advantages:

  • Required for local transactions: Transport, street food, and non-resort services only accept MVR.

  • Easy access locally: ATMs and banks in Malé and larger inhabited islands dispense MVR.

  • Stable and accepted island-wide: You can rely on it for all essential services outside resort environments.

Considerations:

  • US dollars are needed in many resorts: Prices are often quoted and paid in USD for simplicity with international guests.

  • Limited convertibility abroad: MVR is difficult to exchange outside the Maldives.

  • Cash is important: Card acceptance is not universal on non-resort islands.

Common misconceptions

A common misunderstanding is that USD is the official currency in the Maldives. While widely accepted in tourist areas, only the rufiyaa is legal tender, and it is required for most local transactions.

Another myth is that you’ll be able to exchange MVR easily once home. In reality, MVR is not freely traded internationally, so you should exchange or spend any remaining rufiyaa before leaving the country.

Tips for managing your money in the Maldives

  • Bring some US dollars in cash, especially for resort stays, tips, and transfers. Ensure notes are clean and recent.

  • Use ATMs in Malé or major inhabited islands to withdraw MVR at fair rates.

  • Exchange small amounts of money at the airport or in Malé if you need MVR on arrival.

  • Use a travel card with no foreign transaction fees for purchases at resorts or large businesses.

  • Always clarify the payment currency when booking or dining—some places accept both USD and MVR but charge differently.

FAQs

Can I use US dollars in the Maldives?
Yes—especially in resorts, hotels, and tourist services. However, you’ll still need rufiyaa for transport, tips, and shopping on local islands.

Can I exchange MVR outside the Maldives?
Very rarely. MVR is not internationally traded, so it’s best to convert or spend it before leaving.

Are credit and debit cards widely accepted?
Yes, in resorts and hotels. On local islands, cash is preferred and sometimes required.

Should I tip in USD or MVR?
Tipping in USD is common at resorts. Locals also accept MVR for small service tips.

Real-life example

A couple travels to the Maldives for a honeymoon. They bring $800 in USD and use it for their resort stay, paying by card for extras. They also withdraw MVR from an ATM in Malé to cover island transport, snacks, and souvenirs. They tip hotel staff in $1 and $5 bills, and spend any remaining rufiyaa before leaving. By mixing USD and MVR sensibly, they avoid poor exchange rates and ensure they’re always able to pay.