Money in Sri Lanka

The currency of Sri Lanka is the Sri Lankan Rupee (LKR). The rupee is divided into 100 cents, although cents are rarely used in everyday transactions. The abbreviation Re (singular) and Rs (plural) is commonly used, although we will be using the ISO Code LKR throughout this article. Bills are available in denominations of LKR 10, 20, 50, 100, 500, 1,000, 2,000, and 5,000. Coins are issued in LKR 1, 2, 5, and 10 denominations. Foreign currencies are not widely accepted for transactions, except possibly at hotels and international airports.

 

Payment Options in Sri Lanka

In Sri Lanka, cash is still king. However, there has been an increase in the acceptance of other payment methods. Here’s a look at the most common payment options that you might use when visiting Sri Lanka:

• Cash

Cash is widely accepted throughout Sri Lanka, especially in local markets, small businesses, and rural areas. We recommend carrying a mix of small and large bills to handle different types of transactions.

• Credit and Debit Cards

Major credit and debit cards (such as Visa, MasterCard, and American Express) are accepted in many hotels, restaurants, and shops, particularly in urban areas and tourist spots. However, smaller establishments or those in remote areas may not accept cards, so it’s good to have cash on hand.

• Mobile Payments and Digital Wallets

Mobile payment options are becoming increasing popular in Sri Lanka, with several digital wallets and apps like eZ Cash, Genie, and Sampath Pay. These options are generally well-supported in urban areas and major tourist destinations.

 

Exchange Tips for Sri Lankan Rupees

Here are a couple of ways to exchange foreign currency for Sri Lankan rupees:

• Currency Exchange

You can exchange foreign currency for LKR at banks, exchange bureaus, and hotels. Banks offer competitive rates and are a reliable option for exchanging large amounts. Exchange bureaus may offer better rates but be sure to check their legitimacy.

• ATMs

ATMs are widely available in cities and major tourist areas. You can withdraw LKR using international credit or debit cards, but be wary of any foreign transaction fees imposed by your bank. We learned this the hard way!

• Hotels and Airports

Currency exchange services are available at many hotels and major international airports in Sri Lanka. This is a convenient option upon arrival, but the rates may not be as favorable as those offered by banks or exchange bureaus.