When traveling to a foreign country, questions about money inevitably arise. What currency is used, what is the exchange rate, can you pay by card or withdraw cash easily... These are all important considerations before departure.

The Official Currency

The Sri Lankan rupee (LKR) is the official currency of Sri Lanka. Its symbol is "Rs". However, to distinguish it from the Indonesian rupee which shares the same symbol, "SLRs" is sometimes used. Sri Lankan currency comes in coins of 25 and 50 cents, and 1 to 10 rupees. Banknotes range from 10 to 2,000 rupees for the largest denominations.

Its current exchange rate against the euro is approximately: 1 euro = 186 SLRs.

How to Get Sri Lankan Rupees?

One of the peculiarities of the Sri Lankan rupee is that it cannot be taken out of the country. It is therefore impossible to obtain it anywhere other than in Sri Lanka. To obtain it, you have four options.

1. Exchange your currency at the airport.

Since you cannot get rupees before your arrival in Sri Lanka, you will need to exchange your currency at the airport, if only to pay for the taxi to your hotel. To exchange, you can either use the airport's currency exchange counter or simply withdraw money from the ATMs available there.

2. Exchange your euros or dollars at banks

You can also exchange your money at any bank in the country.

3. Convert your money at currency exchange offices

You can also convert your euros or dollars to Sri Lankan rupees at currency exchange offices. These are found in major cities like Colombo, as well as in the island's main tourist centres. Most often, these exchange offices offer competitive rates; however, be careful of scams. Whenever possible, stick to well-known ones, such as those at airports.

4. Withdraw money from ATMs

Another option to obtain Sri Lankan rupees is to simply withdraw them from ATMs. Most of them accept bank cards such as Visa or MasterCard, and allow withdrawals of up to 30,000 Rs, or even 100,000 Rs depending on the bank.

Tips:

• If you have a bank card (Visa, MasterCard, etc.), there is no need to carry large amounts of cash if you plan to stay in major cities. You will easily find ATMs for withdrawals. However, be aware of fees charged by banks for each withdrawal. Banking commissions added to fixed fees can quickly add up. Ask your bank for advice before you go.
• If you plan to travel to provinces or remote villages, carry as much cash as possible. Often, it is difficult to find an ATM or even a bank in these places.
• Never exchange your money on the street or black market, even if someone tries to convince you that you are getting a good deal. Most of the time, you risk being scammed.
• When exchanging, if possible, ask for small denominations (50 or 100 Rs). They are more practical for daily expenses.
• Haggling is a common practice in Sri Lanka, so remember to practice it for almost every purchase. Indeed, although the cost of living in the country is relatively low, that is no reason to pay more than necessary. To do this, do not hesitate to compare prices at different shops for a product—this will give you an idea of what the true price should be. And most importantly, never feel obliged to make a purchase, even after lengthy negotiations.
• For tips, give small amounts but often and only reward services rendered. In hotels or restaurants, it is customary to leave approximately 5 to 10% of the bill amount.