Which is the Best Currency to Take to Sri Lanka from India?

If you plan your trip from India to Sri Lanka, it is important to know which currency to carry and which payment methods are the most convenient. Though Sri Lanka has its own currency, taking the right foreign currency saves you from complications and different fees that you may have to face. In this article, we will discuss what to take, how to exchange, and the various alternatives available in Sri Lanka.

Currency of Sri Lanka

The official currency in Sri Lanka is the Sri Lankan Rupee (LKR), which is abbreviated as "රු" or "Rs." One Sri Lankan Rupee is divided into 100 cents. Banknotes are available in denominations like 20, 50, 100, 500, 1000, 2000, and 5000 rupees. Coins are found in smaller denominations too. Most of your transactions in local shop trades, transport, and eating places will be in LKR. Therefore, having some local currency is essential for smooth day-to-day spending.

Best Currency to Carry to Sri Lanka

The most commonly found foreign currencies in Sri Lanka are USD and EUR. You will find it relatively easy to exchange these at airports, banks, and currency exchange bureaus all over the country. Indian Rupees (INR) are not as popular in Sri Lanka, and you may find it challenging to get good exchange rates for INR compared to USD or EUR​.

If you decide to carry Indian rupees (INR), be aware that they may not be accepted everywhere. On the other hand, USD and EUR are easily converted at better rates in authorized money changers and banks. To have an easy time, it is advisable to bring either USD or EUR. Furthermore, bringing some small amounts in USD will help with tips and initial expenses at the airport until you can convert them for LKR.

How to convert Indian Currency to Sri Lankan Currency

Here are the ways through which you can exchange your Indian Rupees for Sri Lankan Rupees:

• At Airports: All major airports in India and Sri Lanka have bureaus that offer a facility for exchanging INR for LKR. It should be noted that airport prices are generally unfavorable, with additional commissions and taxes charged.
• Authorized Exchange Centers and Banks: Once you land in Sri Lanka, you can change your currency at banks or authorized money exchangers found in cities like Colombo, Kandy, and Galle. You should be able to get a better rate than those charged at the airport counters. They are open from Monday to Friday.
• ATMs: ATMs are a convenient option to withdraw cash directly in LKR using your international debit or credit card. Many ATMs are connected to global networks such as Visa, Mastercard, and Maestro. Be aware of foreign transaction fees and ATM charges, which could vary depending on your bank.
• Online Currency Exchange Services: You may even order LKR online and receive the money ready in advance for your trip. It's a very convenient process, and you can also secure a good exchange rate; it may be better than the usual rates at physical counters.

Other Ways to Pay in Sri Lanka

Apart from carrying cash, there are other reliable ways to make payments during your trip to Sri Lanka:

1. Forex cards

Forex cards are prepaid travel cards that allow you to load different currencies, including LKR, at a fixed exchange rate. You can withdraw cash from these cards at ATMs or use them for purchases at hotels, restaurants, and shops. These cards are safer, easy to carry, and provide a good chance of avoiding heavy foreign transaction fees. To ensure a hassle-free trip, you may wish to consider getting a Forex card from Supreme Forex, which offers services for Indian travelers.

2. Debit Cards

Most Sri Lankan ATMs accept Indian debit cards, especially those that allow international transactions. However, you can only withdraw LKR with these cards, and you should check with your bank about foreign transaction fees before using them. Additionally, some ATMs may impose a withdrawal fee.

3. Credit Cards

Most of the hotels, restaurants, and big shopping malls found at tourist destinations all over Sri Lanka​ accept credit cards like Visa and Mastercard everywhere. A few places charge a small fee for foreign card transactions. Ensure that your card is enabled for international use, and be aware of potential cash advance fees if you use it to withdraw cash. Cards like American Express might not be accepted at all ATMs or small shops, so it’s better to carry a backup Visa or Mastercard.

4. Mobile Payment Apps and E-Wallets

While mobile payment apps such as Google Pay and Paytm are becoming more popular in many regions of Asia, they are not as generally accepted in Sri Lanka, particularly in rural areas. The majority of your transactions should be made using cash or credit cards.

5. Traveler's Cheques

Traveler's cheques are less commonly used these days. However, they can be used in making major transactions or presented at a significant bank for exchange. The security aspect is one of the main benefits but the process of exchange takes more time and is not as smooth as compared with other options.

Conclusion

When traveling from India to Sri Lanka, USD or EUR are the best currencies that can be carried as they are easily exchangeable and with good rates. INR may also be exchanged, but this is quite rare and not as beneficial as possible. Other than cash, you may use Forex cards, or debit/credit cards for easy transactions. Get your currency exchange done well in advance and get currency exchange through authorized services, so while carrying both cash and cards, you'd be good to go for a hassle-free experience throughout Sri Lanka.