Country ISO code: MV

Official language: Dhivehi

Language ISO code: dv

Current official currency: Maldivian Rufiyaa

Current currency ISO code: MVR

Complete Financial History of the Maldives (ދިވެހި ރާއްޖެ)

Current official currency: Maldivian Rufiyaa (ރުފިޔާ)

• ISO code: MVR

• Symbol: Rf

• Singular name: Rufiyaa (ރުފިޔާ)

• Plural name: Rufiyaa (ރުފިޔާ)

• Monetary subdivision: 1 Rufiyaa = 100 Laari (ލާރި)

• Fraction singular name: Laari (ލާރި)

• Fraction plural name: Laari (ލާރި)

• Initial production date: 1947

• Final production date: Still in circulation

• Initial circulation date: 1947

• Final circulation date: Still in circulation

• Mint: Produced by international mints under contract

• Issuing bank: Maldives Monetary Authority

Coin denominations

• 1 Laari

• 2 Laari

• 5 Laari

• 10 Laari

• 25 Laari

• 50 Laari

• 1 Rufiyaa

• 2 Rufiyaa

Banknote denominations

• 5 Rufiyaa

• 10 Rufiyaa

• 20 Rufiyaa

• 50 Rufiyaa

• 100 Rufiyaa

• 500 Rufiyaa

Economic and historical context

• Prior to 1947, foreign currencies such as Indian Rupees and British coins circulated in the Maldives.

• The introduction of the Maldivian Rufiyaa in 1947 marked the country’s monetary independence.

• The economy relies heavily on tourism and fishing, influencing currency demand and circulation.

• The Maldives Monetary Authority manages monetary policy to maintain stability and control inflation.

• The currency has remained relatively stable with minor exchange rate fluctuations.

Minting and production locations

• Coins are produced by international mints including the Royal Mint of the United Kingdom and others.

Designs and symbols on coins and banknotes

• Coins feature marine animals, cultural symbols, and denominations in Dhivehi and English.

• Banknotes depict national leaders, natural landscapes, Islamic architecture, and national emblems.

Production volumes, honorees, and seals

• Specific production volumes are not widely published.

• Banknotes bear signatures of the Governor of the Maldives Monetary Authority.

Commemorative coins and curiosities

• The Maldives issues commemorative coins for national, environmental, and cultural events.

Current circulation status

• The Maldivian Rufiyaa is actively circulating and is the sole legal tender in the Maldives.

Issuing authority

• Maldives Monetary Authority

Relevant monetary legislation

• Regulated by national legislation establishing the Maldives Monetary Authority and its functions.

Names and titles of banknote signatories

• Signatures of the Governor of the Maldives Monetary Authority appear on banknotes.

List of persons honored on coins and banknotes

• Banknotes feature national figures such as presidents and historic leaders; coins highlight cultural and natural symbols.

Official language recognized by the state for administrative, legislative, judicial, monetary, and educational use:
Dhivehi is the official language of the Maldives, used in all official sectors including administration, legislation, judiciary, finance, and education.