Converting from Maldives Rufiyaa (MVR) to Pakistani Rupee (PKR)

What is Maldives Rufiyaa (MVR)

The Maldives Rufiyaa (MVR) is the official currency of the Republic of Maldives, a tropical paradise in the Indian Ocean. The Rufiyaa was introduced in 1981, replacing the Maldivian laari at a rate of 1 Rufiyaa = 10 Laari. The currency symbol for Rufiyaa is RF, and its ISO code is MVR.

The Rufiyaa is subdivided into laari, with one Rufiyaa equal to 100 laari. Coins come in denominations of 1, 2, 5, 10, 50 laari and 1, 2, 5 MVR, while banknotes are issued in denominations of 20, 50, 100, 500, and 1,000 MVR.

The value of the Rufiyaa is managed by the Maldives Monetary Authority (MMA). The exchange rate varies and can be affected by multiple factors such as tourism, trade, and foreign currency reserves. Since the Maldives is heavily reliant on tourism, fluctuations in the number of tourists can lead to changes in exchange rates. Travelers and businesses dealing with MVR should keep an eye on these variations to value their transactions accurately.

What is Pakistani Rupee (PKR)

The Pakistani Rupee (PKR) serves as the official currency of Pakistan, a country rich in cultural heritage and natural beauty. The Rupee has a long history in the region, with its use dating back to the 16th century. The currency symbol for the Pakistani Rupee is ₨, and its ISO code is PKR.

The Rupee is divided into 100 paise, although paise coins are rarely used in everyday transactions today. The State Bank of Pakistan manages the issuance of banknotes and coins. Banknotes are printed in various denominations, including 10, 20, 50, 100, 500, and 1,000 PKR, while coins are available in smaller denominations, such as 1, 2, and 5 PKR.

Similar to the Rufiyaa, the value of the PKR is influenced by economic factors such as inflation, political stability, and foreign investment. Exchange rates can fluctuate due to various domestic and international developments. Travelers exchanging MVR to PKR should monitor market conditions to ensure they get the best rates for their conversions.

Conversion Rate

When converting from MVR to PKR, it is necessary to check the current exchange rate, which can vary from one financial institution to another. As of recent data, the exchange rate fluctuates around

1 MVR ≈ 6.50 PKR

, but this can change based on economic conditions.

For accurate conversions, utilizing reliable online currency converters or consulting local banks is advised. By understanding both currencies, individuals and businesses can better navigate financial interactions between the Maldives and Pakistan, making transactions smoother and more efficient.