Maldives Currency and Money

The Maldivian Rufiyaa

The official currency of the Maldives is the Maldivian Rufiyaa (MVR), abbreviated as Rf or .ރ in Thaana script. One Rufiyaa is divided into 100 laari. Banknotes come in denominations of 5, 10, 20, 50, 100, 500, and 1,000 Rufiyaa. The exchange rate has been relatively stable, with the Rufiyaa pegged to the US dollar at approximately MVR 15.42 per USD 1, though rates at local exchanges may vary slightly.

In practice, the US dollar functions almost as a second currency, especially in the tourism sector. At resorts, everything is priced and billed in US dollars. You can pay your final bill in USD cash, by credit card, or sometimes by bank transfer. Resorts rarely deal in Rufiyaa at all.

On local islands, both USD and Rufiyaa are accepted. Guesthouses typically quote rates in USD, while local shops, cafes, and ferry tickets may be priced in Rufiyaa. If you pay in USD, you will usually receive change in Rufiyaa.

In Malé, shops and restaurants accept both currencies, though Rufiyaa is more commonly used for everyday transactions.

Should You Bring US Dollars?

Yes, bringing some US dollars in cash is recommended, particularly in smaller denominations. Here is why and how much to consider:

• Tipping: Tips are usually given in USD. Small bills ($1, $5, $10) are ideal for tipping porters, housekeeping, waitstaff, and excursion guides.
• Small purchases: Having USD cash is useful for buying SIM cards at the airport, paying for ferry tickets, and small purchases on local islands.
• Backup: In case of card machine failures (which can happen on smaller islands), cash ensures you are never stuck.
• How much: For a resort stay, $100 to $200 in small bills covers tipping for a week. For local island travel, $200 to $400 in mixed denominations is useful as a cash reserve.

Bring clean, undamaged bills. Torn, heavily worn, or marked notes may be refused. Notes from before 2006 are sometimes rejected.

Credit and Debit Cards

Credit and debit cards are widely accepted at resorts, larger guesthouses, and established businesses in Male and Hulhumale. Visa and Mastercard are the most universally accepted, with American Express accepted at some resorts but less commonly elsewhere.

• Resorts: All charges are typically added to a running room tab, which you settle at checkout by credit card or cash. Visa, Mastercard, and often Amex are accepted.
• Guesthouses: Most guesthouses on popular tourist islands like Maafushi and Thulusdhoo accept cards, sometimes with a small surcharge (2 to 3%). Smaller or newer guesthouses may be cash-only.
• Restaurants and shops: In Male and Hulhumale, many restaurants and shops accept cards. On local islands, smaller establishments are often cash-only.
• Excursion operators: Some accept cards, but many prefer cash. Confirm payment methods when booking.

Before travelling, inform your bank that you will be using your card in the Maldives to avoid it being blocked for suspicious activity. Check your bank's foreign transaction fees, as these can add 1 to 3% to every purchase.

Consider using a travel-focused credit card with no foreign transaction fees if you have one available. This can save meaningful money over a week-long trip.

ATMs and Cash Access

ATM availability in the Maldives is limited compared to most countries. The main banks are Bank of Maldives (BML) — the largest, with the widest ATM network — along with State Bank of India (SBI) and Maldives Islamic Bank (MIB), both operating primarily in Malé. Knowing where to find ATMs is important:

• Malé: Multiple ATMs from BML and other banks throughout the city, particularly near the main commercial areas.
• Hulhumale: Several ATMs available, including at the ferry terminal area.
• Velana International Airport: ATMs in the arrivals hall.
• Local islands: Larger tourist islands like Maafushi have BML ATMs. Smaller islands may not have any ATMs at all.
• Resorts: Most resorts do not have ATMs, as they operate on a cashless room-charge system.

ATMs typically dispense Maldivian Rufiyaa, not US dollars. Some BML locations in Malé offer USD withdrawals. Daily withdrawal limits may apply (often around MVR 10,000 to 15,000, approximately $650 to $970). Transaction fees vary by your home bank.

Do not rely solely on ATMs for your cash needs. Withdraw what you might need before heading to remote islands, and always carry a reserve of USD cash as backup.

Mobile Payments and Digital Options

Digital payment options are growing in the Maldives. The main mobile payment platforms are:

• BML Pay: Bank of Maldives' mobile payment app, used widely by locals and increasingly by tourists. You can link it to a BML account or some international cards.
• Ooredoo M-Faisaa and Dhiraagu Pay: Mobile money services linked to local telecom providers. These require a local SIM card and are more useful for longer stays. See our internet and mobile guide.

International mobile payment services like Apple Pay and Google Pay are not widely supported in the Maldives, though some international chain hotels may accept them. For most practical purposes, cards and cash remain the primary payment methods.

Tipping and Resort Billing

Tipping in the Maldives is not mandatory but is customary and appreciated, particularly in the service-heavy resort environment.

Resort Tipping Guidelines

• Housekeeping: $2 to $5 per day, left in the room
• Waitstaff: $2 to $5 per meal, or a lump sum at the end of your stay
• Room butler or villa host: $5 to $20 per day at luxury resorts
• Excursion guides and boat crew: $5 to $10 per person per trip
• Dive instructors: $10 to $20 per dive day
• Spa therapists: 10 to 15% of the treatment cost
• Porters: $1 to $2 per bag

Most resorts add a 10% service charge and 16% GST (Goods and Services Tax) to all bills. The service charge is distributed among staff. If a service charge is already included, additional tipping is at your discretion but still appreciated for exceptional service.

Resort Billing

At resorts, you typically sign for all purchases during your stay (meals, drinks, spa treatments, excursions, mini-bar), and these are added to your room account. You settle the total bill at checkout. Review your bill carefully before paying, as errors can occur over a multi-day stay.

Guesthouse and Local Island Tipping

On local islands, tipping is less formalised. Rounding up restaurant bills, tipping excursion guides $5 to $10, and leaving a small amount for guesthouse staff at the end of your stay are all appreciated gestures. See our local etiquette guide for more cultural context.

Currency Exchange

If you need to exchange currency, you have several options:

• Airport: Bank of Maldives and private exchange counters at Velana International Airport offer currency exchange. Rates are reasonable but not the best.
• Male: Banks and licensed money changers in Male offer competitive rates. Bank of Maldives is the largest bank with multiple branches.
• Hotels and resorts: May offer exchange services but typically at less favourable rates.
• Local islands: Currency exchange facilities are very limited. Exchange before arriving.

In practice, most tourists get by entirely with USD and credit cards and never need to exchange currency into Rufiyaa. If you do receive Rufiyaa as change, it is useful for small local purchases but difficult to exchange back to your home currency outside the Maldives. Spend any remaining Rufiyaa before leaving the country, as it is difficult to exchange outside the Maldives.