It is easy to travel to Sri Lanka which is home to rolling tea plantations ancient misty hills jungles safari plains and a rich cultural legacy. Especially in terms of currency – it’s easy to get money if you know everything you can about the local currency and payment options before you go.
The currency used in Sri Lanka
The Sri Lanka Rupee is the currency that is used by all people in Sri Lanka. Its international code is LKR and its symbol is Rs. which means one Sri Lankan Rupee is worth 100 cents.
Additionally, the Sri Lanka Rupee (LKR) is the country’s official currency. It is not a good idea to purchase Rupees outside of Sri Lanka prior to your trip because it is not a major currency and you are unlikely to obtain a favourable exchange rate outside of Sri Lanka. Since there are many locations to exchange money the best alternatives to bring with you are US dollars (USD) euros (EUR) or Australian dollars (AUD).
The Sri Lankan currency.
There are currently five coin denominations available for the Sri Lanka Rupee: Rs. 10 Rs. 5 Rs. 2 and Rs. 1.
Six denominations are currently available on Sri Lankan banknotes: Rs.20, Rs.50, Rs.100, Rs.500, Rs.1000 and Rs.5000.
Does Sri Lanka accept Australian dollars?
Major currencies such as US dollars (USD) euros (EUR) British pounds (GBP) and Australian dollars (AUD) can be exchanged in cash at any bank or exchange bureau. The majority of locations however only take local currency as payment.
Conversion costs are probably included in the prices that businesses charge. So compared to using local currency you would ultimately pay a much less favorable rate in Australian dollars.
How much foreign currency or Sri Lankan Rupees am I allowed to bring into Sri Lanka?
Only LKR 20,000 in local Sri Lankan Rupees (approx. 130 Australian dollars) into or out of Sri Lanka. Thankfully you are not limited in how much foreign currency you can bring.
It is best to bring foreign currency with you and only purchase a small amount of local currency in advance as it will probably be at a very bad rate. Sri Lankan Rupee notes.
Sri Lankan Bank Card Usage.
The majority of Sri Lankan companies are prepared to accept credit and debit card payments. Among the top travel money cards are prepaid debit and credit cards. However, it is worthwhile to read up on the fees and charges you may be subject to before using your bank card carelessly.
Debit cards
You’ll likely want a debit card if you intend to take out cash from an ATM. You might find some significant fees on your account summary even though some establishments in the main locations might also accept debit card payments. You may incur fees for currency conversions or foreign ATM withdrawals depending on your bank. However, some banks are better than others with their travel-friendly debit cards that don’t charge these fees we suggest looking into Wise ING and Revolut.
Credit cards.
Free travel insurance loyalty programs and increased security are just a few of the alluring benefits that credit cards can offer.
But are they worth it?
Major local establishments that take credit cards include department stores hotels restaurants and airline offices. However, you may be required to pay a fee. Most people accept Visa and Mastercard. Although local ATMs won’t take them you might also be able to use your American Express card. Just be mindful that there might be extra fees associated with international transactions. These might consist of: transaction fees for international transactions, large margins on exchange rates, fees for ATMs, Potential cash advance fees for using an automated teller machine. If credit cards are still your preferred method of payment you might want to choose a company that offers cards that waive specific travel fees. Both 28 Degrees and Bankwest Platinum offer travel-friendly credit cards.
Cards for prepaid travel.
One of the primary benefits of prepaid travel cards is the ability to lock in a favourable exchange rate. Additionally, a useful backup card is included. Although they are convenient keep in mind that there may be a number of unstated costs involved. Many travel cards still have restrictions. fees for currency conversion. exchange rates that lack competition. fees for making withdrawals from an ATM abroad. initial charges for the load. Reload charges. charges for inactivity.
How to Purchase Sri Lankan Rupees Before Traveling.
Getting off the plane (or cruise ship) with the Sri Lanka Rupee already cashed in gives you a sense of security. Although it is convenient to purchase Sri Lankan Rupee before departing Australia you are only allowed to bring LKR 20000 into Sri Lanka. In Australia, you can obtain Sri Lankan currency in three primary ways.
- Order LKR online and pick it up in-store or have it delivered.
- Use a money changer to exchange Sri Lankan rupees for Australian dollars.
- Purchase Sri Lankan currency at the airport in your home country.
We strongly advise against using currency exchange offices at Australian airports because of their notoriously bad rates and commissions.
There should be at least one bureau de change in every suburban shopping centre and you can easily find one nearby. However, it is preferable to obtain your funds from an inner-city bureau if at all possible. Their rates are probably going to drop because they are up against more competition.
Order Sri Lanka Rupee online if you already have too much rushing around to do before your trip. Either delivery or pick-up at a nearby location are options available to you.
Additionally, online orders frequently offer the best value particularly if you choose S Money which provides the same rates as those found on Google and XE . com.
