MVR (Maldivian Rufiyaa)

AAA

DEFINITION of 'MVR (Maldivian Rufiyaa)'

The currency abbreviation for the Maldivian rufiyaa (MVR), the currency for the Maldives. The Maldivian rufiyaa is made up of 100 laari and is often presented with the symbol Rf or MRF. The name rufiyaa is based on the Hindi word "rupaya", which comes from the Sanskrit word "rupya" and can be translated to mean "wrought silver".

INVESTOPEDIA EXPLAINS 'MVR (Maldivian Rufiyaa)'

The Maldivian rufiyaa came about in 1947, when it replaced the Ceylonese rupee at par. However, the laari, the subunit of the rufiyaa, was used in the Maldives much earlier, and can be traced back to the 19th century. Bronze coins issued throughout the 19th and early 20th centuries were denominated in laari. These laari coins had their last minting in 1913. Today's laari was first minted in 1960.

RELATED TERMS
  1. Currency

    A generally accepted form of money, including coins and paper ...
  2. Authorized Forex Dealer

    Any type of financial institution that has received authorization ...
  3. Quote Currency

    The second currency quoted in a currency pair in forex. In a ...
  4. Base Currency

    The first currency quoted in a currency pair on forex. It is ...
  5. Forex - FX

    The market in which currencies are traded. The forex market is ...
  6. Currency Pair

    The quotation and pricing structure of the currencies traded ...
RELATED FAQS
  1. Is credit a form of fiat money?

    To understand why credit is a form of fiat money, one must first understand what money is. At its most basic level, money ... Read Full Answer >>
  2. What is the difference between fiat money and representative money?

    Fiat money is physical money (paper money and coins), while representative money is something that represents intent to pay ... Read Full Answer >>
  3. What is the difference between fiat money and legal tender?

    Fiat money does not have any intrinsic value. What value it has depends on public confidence in the currency's issuer. Legal ... Read Full Answer >>
  4. Is fiat money more prone to inflation than commodity money?

    The value of fiat money is based largely on public faith in the issuer. Commodity money's value is based on the material ... Read Full Answer >>
  5. What developed countries have the greatest exposure to the automotive sector?

    The developed countries with the greatest exposure to the automotive sector are Japan and Germany. This is based on exposure ... Read Full Answer >>
  6. Will M1 ever become obsolete?

    The form of M1 money in an economy may change over time, but M1 money will continue to exist for the foreseeable future; ... Read Full Answer >>
Related Articles
  1. Forex Education

    Currency Exchange: Floating Rate Vs. Fixed Rate

    Baffled by exchange rates? Wonder why some currencies fluctuate while others are pegged? This article has the answers.
  2. Forex Education

    Countries Where Bitcoin Is Legal & Illegal

    Although bitcoin has been in existence for five years, most countries still do not have consistent laws regulating the cryptocurrency. However, a few countries have banned bitcoin altogether.
  3. Forex

    Will The US Dollar Surpass The Euro?

    The euro is weakening as the European Union turns to quantitative easing to help its economic woes. Meanwhile, the U.S. dollar is strengthening.
  4. Forex

    Countries That Use The U.S. Dollar

    Here are the territories and countries that use the U.S. dollar as their official or quasi official currency.
  5. Economics

    What is Fiat Money?

    Fiat money is currency that a government has declared to be legal tender, but is not backed by a physical commodity.
  6. Economics

    A Risky Maneuver To Jumpstart Japan's Economy

    Japan's government and the Bank of Japan are buying large amounts of government bonds in an effort to spark economic activity, but there are great risks.
  7. Forex Education

    North Korean Vs. South Korean Economies

    North Korea's economy is defined by its military ambitions and the humanitarian aid it receives, while South Korea is a world economic powerhouse.
  8. Bonds & Fixed Income

    Understanding Negative Rates Of Europe's Central Banks

    We are currently seeing negative central bank deposit rates and government and corporate bonds with negative yields, but there are investors buying into these securities. Why?
  9. Forex

    Top Investments for a Strong U.S. Dollar

    Looking to benefit from a strong U.S. dollar? Consider these stocks.
  10. Trading Strategies

    Trade Forex Through Inside Day Breakout Strategy

    Inside day breakout is a popular strategy for forex trading. Here's how to recognize the patterns, entry/exit points and trading scenarios.

You May Also Like

Hot Definitions
  1. Merger Arbitrage

    A hedge fund strategy in which the stocks of two merging companies are simultaneously bought and sold to create a riskless ...
  2. Market Failure

    An economic term that encompasses a situation where, in any given market, the quantity of a product demanded by consumers ...
  3. Unsystematic Risk

    Company or industry specific risk that is inherent in each investment. The amount of unsystematic risk can be reduced through ...
  4. Security Market Line - SML

    A line that graphs the systematic, or market, risk versus return of the whole market at a certain time and shows all risky ...
  5. Tangible Net Worth

    A measure of the physical worth of a company, which does not include any value derived from intangible assets such as copyrights, ...
  6. Marginal Utility

    The additional satisfaction a consumer gains from consuming one more unit of a good or service. Marginal utility is an important ...
Trading Center