Currency in Sri Lanka

Given that Sri Lankan currency is a closed currency, currency exchange in Sri Lanka can be tricky. You’re bound to have questions like, “How much cash to carry?”, “Should you withdraw at an ATM?” or “Is it cheaper to exchange money at a bank?”. So here’s a detailed guide to everything related to the currency in Sri Lanka for your holiday to this gorgeous island country.

CARRYING CASH IN SRI LANKA

Buying Sri Lankan rupees outside of the country isn’t an option. Exchanging once you get here is your only resort. You could exchange currency at a bank, an exchange bureau or through authorized local money changers. Another feasible option would be to withdraw money at the ATMs in Sri Lanka. The currency used in the country is Sri Lankan rupees, referred to as Rs or LKR. The notes distributed are in denominations of Rs 10, 20, 100, 500, 1000, 2000, and 5000.

Note that importing money from India and Pakistan is illegal and you cannot import or export more than Rs 5,000 in cash, so be sure to exchange your leftover cash again before leaving the country.

EXCHANGING CURRENCY IN SRI LANKA

If you’re travelling to Sri Lanka, you’ll have to exchange money on location. Your first and most convenient option would be to exchange currency at the airport. At Bandaranaike International Airport, where most international flights land, money exchange desks and banks are open 24/7.

Exchanging money at the airport may be slightly expensive, but recommended. Especially procuring enough cash in Sri Lanka (LKR) to get you through your first day.

Exchange bureaus are another viable option. Easy to access in popular tourist areas. They usually accept major currencies like dollars, euros and pounds. Mostly commission free, their exchange rates can compete with banks. Popular hotels in touristy areas also offer money exchange facilities. Though convenient, the rates are usually a lot higher or an additional fee is levied. Unlicensed money changers are another common sight on the streets of urban cities. Though their exchange rates are tempting, they’re best avoided. There’s a good chance they’ll scam you unless they’re authorized money changers.

CARD PAYMENTS AND ATM WITHDRAWALS

Non Touristy cities, small shops, local restaurants and street markets lack provisions for card payments and ATMs in Sri Lanka. So we recommend making sure you have a good amount of cash on you at all times. Visa and Mastercards are the most commonly accepted cards. Despite the travel benefits, Amex isn’t accepted everywhere. So if you’re travelling from the UK, you can get cards like Monzo and Starling that allow free roam in other countries. Several establishments in tourist areas display rates in USD. But still, just ensure that the transaction is performed in the local currency. Card transaction in a foreign currency is illegal in Sri Lanka and the exchange rates are highly unfavourable.

ATMs are easily accessible in Sri Lanka, unless you’re in a remote village, where finding one may be difficult. Locate the closest ATM using handy online portals like Visa ATM locator or Amex ATM locator. If you choose to be charged in the local currency, ATMs also provide better rates than exchange bureaus and banks. The maximum you can withdraw is between LKR 40,000 – 60,000, which is enough to last you a good 4-5 days.

RELIABLE BANKS

The most renowned and reliable banks that you should look for are:

Commercial Bank, Sampath Bank, Bank of Ceylon, Hatton National Bank (HNB), People’s Bank, Seylan Bank, and DFCC Bank.

International banks often have partnerships with local Sr Lankan banks. Check if your bank is amidst those, If so, you may be able to use the partner bank’s ATMs free of charge or at a reduced cost. Renowned international banks with partnerships in Sri Lanka include ICICI Bank, HSBC Bank, Habib Bank and Standard Chartered.

All in all, exchanging currency in Sri Lanka is not as complicated a process as made out to be. Having become a fairly popular tourist destination in the recent past, there are several provisions for tourists to manage their currency. ATMs and exchange bureaus are accessible in most places and having cash on you isn’t as unsafe as perceived to be. Sri Lanka currency is easy to identify given the various colours on different notes of different denominations. Making necessary withdrawals in advance and carrying the local currency is far more feasible than depending on card payments or last minute withdrawals.

Besides understanding Sri Lankan currency there are several other essential travel tips to keep in mind for travelling to Sri Lanka. Whether it’s the best time to visit the country or the approximate cost of travelling to this island. Find all this, and so much more, on our section of Travel Tips for Sri Lanka. If you’re looking to enjoy a smooth journey with your itinerary taken care of, simply get in touch with us. We’ll help plan the ideal trip curated to suit all your needs and interests.