Maldivian economy is regarded as exemplary in the region,
and welcomes foreign investment. Per capita income for
1997 was recorded at US$ 900.00.
The Maldivian currency is the ‘Rufiyaa’, with an exchange
rate of 11.72 to the US Dollar (1999). The Rufiyaa comes
in denominations of 1, 2, 5, 10, 20, 50, 100 and 500.
The smaller denomination of the currency is called the
Laaree and one Rufiyaa is equivalent to 100 Laarees.
The US Dollar is the most commonly used foreign currency;
however, payments in the resorts can be made in most
hard currency, Travellers’ Cheques, or credit cards.
Commonly used credit cards are American Express, Visa,
Master Card, Diners Club, and JCB.
The functional literacy rate is 98 per cent. Educational
standards are among the highest in the region, and schools
follow the British education system.
time: GMT +5 hours.