A bit of knowledge of a country’s national currency will give you an idea about its economic growth and productivity. The Maldivian rufiyaa (MVR), the national currency of Maldives is represented in the currency symbol ‘Rf’.
History
The very first form of currency in Maldives was cowry shells. During the 17th and 18th centuries, ‘Larin’ was used as a currency for trading. It was also used by Ceylon, the Persian Gulf, India, and other far eastern countries. Rufiyaa came to play in 1947 with the introduction of Rufiyaa banknotes.
Understanding MVR
Initially, when the Sri Lankan rupee was replaced with Rufiyaa, the change applied only to Rufiyaa’s paper banknotes. The sole control of this currency falls under the authority of the Central Bank in the Maldives. At present, 1, 2, 5, 10, 25, and 50 denomination coins are most commonly used by locals. If you are a first-timer to Maldives, some basic knowledge of their currency is important to know attractive deals of all inclusive hotels in Maldives the likes of Varu by Atmosphere.
Modern Rufiyaa
It will be interesting to have a close look at Modern Rufiyaa banknotes with symbols and scenes representing the Maldivian culture and history. For instance, the five Rufiyaa note has a picture of people playing soccer which is known as a popular pastime activity in the Maldives.
Economy
Similar to all national currencies, the strength of Rufiyaa depends on the economic status of the issuing country. The economy of Maldives is heavily on tourism. Between December 2020 to August 2021, the value of Rufiyaa has stayed at approximately $0.065 USD for every one rufiyaa.
