Sri Lanka runs on the Sri Lankan rupee (LKR, written Rs), and in most of the country cash still matters. The good news: changing money is straightforward if you use the right places. This guide covers both sides: if you are visiting and if you live here.
The basics: Sri Lankan rupees
Rupee notes go up to Rs 5,000. Larger notes are handy for hotels and supermarkets, but small shops, tuk-tuk drivers and street vendors often cannot break them, so ask for some smaller notes (Rs 100, 500 and 1,000) whenever you change money.
Exchange rates move daily. Check a live rate before you change money so you know what a fair rate looks like; the Central Bank of Sri Lanka publishes indicative rates, and banks display theirs at the counter.
If you’re visiting Sri Lanka
At the airport
Bandaranaike International Airport has exchange counters in the arrivals hall. Rates there are usually reasonable, but it makes sense to change only enough for your first day or two: a taxi or ride into town, a meal and some small notes.
Banks: the safest option
Major banks such as Bank of Ceylon, People’s Bank, Commercial Bank, Sampath Bank and HNB exchange foreign currency at their branches. Bring your passport. Banks keep weekday office hours, so plan around weekends and public holidays.
Authorised money changers
Money changers licensed by the Central Bank of Sri Lanka operate in Colombo and tourist towns, and their rates can be competitive. Use one that clearly displays its licence and gives you a receipt. Avoid anyone offering to change money on the street, which is illegal and a common route to counterfeit notes or short-changing.
Hotels
Many hotels will change money, but rates are usually worse than banks. Fine for an emergency, not for your main exchange.
ATMs
Bank ATMs are easy to find in Colombo, Kandy, Galle and other towns, and most accept foreign Visa and Mastercard cards. They are scarcer in rural areas and small villages, so withdraw before heading somewhere remote. Expect a local fee per withdrawal on top of whatever your own bank charges, so taking out larger amounts less often saves money.
If the ATM or card machine offers to charge you in your home currency, decline and choose rupees. This “dynamic currency conversion” almost always comes with a worse rate.
Cards vs cash
| Usually takes cards | Usually cash only |
|---|---|
| Mid-range and upscale hotels, chain and upmarket restaurants, supermarkets, larger shops, many Colombo cafés, major site ticket counters | Tuk-tuks, buses, local eateries, markets and street food, small guesthouses, temple offerings and donations, tips |
Visa and Mastercard are the most widely accepted. American Express is accepted far less often. Tell your bank you are travelling before you go.
Bringing money in and taking it out
According to Sri Lanka’s official guidance, you can bring in any amount of foreign currency, but you must declare it to Customs on arrival if the total is more than US$15,000 (or equivalent). When leaving, you can take out up to US$10,000 in legally obtained foreign currency without declaring it, but if you are carrying more than US$5,000 in notes, you need to have declared it. Rules can change, so check with Sri Lanka Customs if you are carrying large sums.
Changing rupees back
You can change leftover rupees back to foreign currency at banks, authorised money changers and airport counters. Keep your exchange receipts, as you may be asked for them. Try to spend down your rupees before departure day, since the rate on the way out is rarely the best.
Tipping and small change
Many restaurants add a service charge. Where they do not, rounding up or around 10% is appreciated. Keep small notes for drivers, guides and hotel staff.
If you live in Sri Lanka
Buying foreign currency for a trip abroad
Buy foreign currency from a bank or an authorised money changer. Your bank will usually ask for your passport and travel details. Compare a couple of rates first: the difference between buying and selling rates, and between providers, adds up on larger amounts.
Coming home with leftover currency
Official guidance allows residents to keep unused foreign currency bought for travel for up to 90 days before converting it, and returning travellers can keep up to US$2,000 for future travel without a time limit. Check with your bank for the current rules before relying on this.
Receiving money from family abroad
Use banks and licensed money transfer services. Informal channels such as undiyal/hundi are illegal and leave you with no protection if something goes wrong.
Helping visiting friends and family
- Point them to bank ATMs inside or next to bank branches, which are safer than standalone machines.
- Remind them to choose rupees on card machines, not their home currency.
- Book tuk-tuks through an app such as PickMe or Uber so they get a fixed fare.
Common mistakes to avoid
- Changing all your money at the airport or hotel instead of a bank.
- Accepting home-currency conversion at ATMs and card terminals.
- Carrying only Rs 5,000 notes into small shops and tuk-tuks.
- Changing money with people on the street.
- Throwing away exchange receipts before you leave.
Quick checklist
- Tell your bank you are travelling and check your card’s foreign fees.
- Change a small amount on arrival, then use banks, licensed changers or bank ATMs.
- Carry a mix of small and large notes, and some cash every day.
- Declare cash above US$15,000 on arrival.
- Keep receipts if you plan to change rupees back.
Sources: Government Information Centre, Sri Lanka (foreign currency declaration limits); Central Bank of Sri Lanka. Rates and rules change, so always check before travelling.