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Maldives (MV)

The Maldives is the world's most geographically dispersed country — a chain of 26 coral atolls and 1,192 islands stretching 900km across the Indian Ocean, of which only about 185 are inhabited.

Capital: Malé
Region: Asia
Language: Dhivehi
Currency: MVR (Rf)
Cost of living: Affordable (index 55)
Emergency: 119
Free
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Currency & Money

Practical money tips for living in Maldives.

Rf
Maldivian Rufiyaa
MVR

Denominations

Coins: 1L, 5L, 10L, 25L, 50L, Rf1, Rf2. Notes: Rf5, Rf10, Rf20, Rf50, Rf100, Rf200, Rf500, Rf1000.

Payment Culture

Cash is king on inhabited islands. Tourist resorts operate on USD. In Malé, card payments are accepted at larger shops, restaurants, and supermarkets. BML MyBML app enables mobile payments. Carry both MVR (for local shops) and USD (for resort-side transactions).

ATM Tips

BML (Bank of Maldives) has the widest ATM network. HSBC and SBI also have ATMs in Malé. ATMs on outer atolls are rare — withdraw cash before leaving Malé or Hulhumalé. Many ATMs dispense USD as well as MVR.

Exchange Tips

Avoid exchanging currency at resorts — rates are heavily unfavourable. Banks in Malé offer standard rates. Wise and Revolut work for international transfers but are not widely accepted locally. USD is the practical second currency.

Pro tip: Best apps for expats

  • • Wise — Send money internationally at near-interbank rates
  • • Revolut — Multi-currency account, free ATM withdrawals (limits apply)
  • • N26 — German IBAN, free account, good for EU residents