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Currency
The Maldivian Rufiyaa (abbreviated as Rf. or MRf.) is made up of 100 larees. The current exchange rate to the U.S. Dollar is around MRf.11.82 per U.S. Dollar.
Money Changing
The U.S. dollar is commonly used in most areas of the Maldives and INDOEX participants may want wait to change currency until the need is determined. Foreign exchange facilities are available at all resorts and banks. Guests staying at hotels can settle their bills in foreign currency. Every shop is allowed to change money or accept U.S. dollars for payment and often prices are listed in U.S. dollars (although payments of Rf-priced items in dollars are usually rounded unless the exact exchange rate is requested). Hotels and banks were able to cash travelers checks in U.S. dollars (subject to availability of cash).
Normal banking hours are 0900 to 1300 on Sundays to Thursdays, and 0900 to 1100 on Saturdays. Friday is a holiday. Government offices are open from 0730 to 1330 daily except on Fridays. Shops and private businesses often stay open very late (around 2130.)
Credit Cards
Major credit cards are accepted by most resorts, but payment for a booking deposit by telephone is not always accepted (you may need to make arrangements to wire-transfer funds). In some cases, shops in Male may try to add a surcharge to the purchase price if payment is made by card.
If you have questions or need clarification regarding information contained in these Bulletins, contact Ms. Diane Lask, JOSS, at (+1) 303-497-8684, lask@ucar.edu.
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Last modified: 17 August 1998