Maldives Coin List

The official currency of the Maldives is the Maldivian rufiyaa, which is divided into 100 laari. This monetary system has a rich history that reflects the economic and cultural evolution of the Indian Ocean archipelago.

Current currency in circulation

The modern Maldivian rufiyaa was introduced in 1947, replacing the Ceylon rupee. Currently, coins circulate in denominations of 1, 2, 5, 10, 10, 25 and 50 laari, as well as 1 and 2 rufiyaa. Banknotes are issued in denominations of 5, 10, 20, 20, 50, 100, 500 and 1000 rufiyaa. The Maldives Monetary Authority is responsible for issuing and regulating the national currency.

Monetary history and relevant facts

Prior to the rufiyaa, the Maldives used various monetary systems, including cowrie shells as a medium of exchange until the 19th century. An important milestone in Maldivian numismatics was the minting of the first local coins in 1913 during the reign of Sultan Muhammad Shamsuddeen III. In 2015, the Maldives issued a commemorative series of coins and banknotes to celebrate the 50th anniversary of its independence, highlighting the importance of numismatics in preserving the country's history and culture.