Where to exchange money in Maldives

Are you heading to Maldives? You will want to ensure you are aware of the local currency and how to obtain it. In addition, you may want to keep track of the current exchange rates and where to change your money to the local currency without getting ripped off.

We will give you a list of the best currency exchanges in Maldives that you can visit in person.

There is also a digital alternative to consider by using Wise. This could save you both time and money.

Currency exchanges in Maldives

We are aware that there can be times when you need to have some local currency on hand, so avoiding currency exchanges altogether isn't always possible. We have provided a list of currency exchanges you can find in Maldives below.

Don't forget to refresh yourself on the advice in this article to help get the most out of your cash whilst abroad.

Money ChangerAddressContact Information
Sago Money Exchange6G5R+9PF, Malé, Maldives+960 947-7100
Maldives Stock ExchangeH.Gadhamoo (3rd Floor) Boduthakurufaanu Magu, 20066, Maldives+960 330-7878
Western Union5GF7+VJ7, Malé, Maldives+960 333-2777
Money Exchange My ZoneChaandhanee Magu, Malé, Maldives+960 777-5042
NBL Money Transfer Pte LtdGadhamoo, Boduthakurufaanu Magu, Male,, Malé, Maldives+960 333-5512
Aqsa Forex(Money Exchange)Lot 10488 Next to Bombay Darbar Restaurant Nirolhu Magu Hulhumale, 23000, Maldives+960 797-6196
Bank of Maldives Hulhumeedhoo BranchC66H+J5C, Addu City, Maldives+960 689-4663
CURRENCY EXCHANGE5GG8+XW6, Boduthakurufaanu Magu, Malé 20002, Maldives+960 980-3481
Unity Exchange Pvt LtdM Zaab Fareedhee Magu Male, 20191 Fareedhee Magu, Malé 20191, Maldives-
Currency ExchangeAirport Main Rd, Malé 22000, Maldives-
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Maldivian rufiyaa rate today

The accepted currency in Maldives and across Maldives is the Maldivian rufiyaa.

However, when you visit a currency exchange, you'll find that they use currency codes. Specifically, the currency code for the Maldivian rufiyaa is MVR. Keep an eye out for this code if you're comparing exchange rates.

What you should know about exchanging money in Maldives

Before exchanging money in Maldives or any foreign city, it's important to be informed to avoid excessive charges and get the best deals. Consider opening a bank account in Maldives for long-term stays or substantial investments like buying property or cars.

1. Beware of 'zero fee' services
Services claiming 'no commission' often offer poor exchange rates, not reflecting the mid-market rate, leading to hidden profits for them.

2. Check the exchange rate beforehand
Familiarize yourself with the base rate to identify a bad deal from exchange services.

3. Avoid exchanging money at airports or hotels
Convenience comes at a price, as airports and hotels usually offer poor rates and high transaction fees.

4. Use ATMs strategically
Check if your home bank has partnerships in Maldives banks to avoid extra ATM fees, and inform your bank before traveling.

5. Opt for local currency
When using an ATM abroad, choose to be charged in Maldivian rufiyaa for a fairer rate and avoid undisclosed exchange rates and additional fees.

Consider an alternative to physical currency exchanges

Say goodbye to overcomplicated currency exchange. Wise can help you get a better deal on currency conversion in over 40 currencies, with the mid-market exchange rate and low fees.

Open a personal Wise account online or in the Wise app, and order a linked debit card for a one-time fee to spend and withdraw money in 150+ countries.

There’s no fee to spend any currency you hold, and no foreign transaction fee to worry about. Use your account when you travel or shop online in foreign currencies, send payments in 70+ currencies, and get your own local bank details in 9 currencies.

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Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

Other currency exchanges

Bottom line

As you can see, there are plenty of options for exchanging money in Maldives. Remember to do your research on the exchange rate and get the most out of your trip. For a fuss-free alternative to exchanging cash, check out Wise.
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