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. Authorized Forex Dealer

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

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

    The first currency quoted in a currency pair on forex. It is ...
  4. Forex Futures

    An exchange-traded contract to buy or sell a specified amount ...
  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 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

    How do I find out my bank's bid-ask spread for currency conversions?

    Learn how to find your bank's bid-ask spreads for currency conversions, and understand why you should consider alternative foreign exchange services.
  3. Chart Advisor

    Use This ETF To Trade The Swiss Franc

    Traders were stunned last week when the Swiss National Bank removed the currency peg that tied the value of the Swiss franc to the euro.
  4. Economics

    Sanctions & Falling Oil Prices Hit Ruble Hard

    Russia, through its aggressive actions, has brought upon itself sanctions which, coupled with falling oil prices, have adversely impacted its economy.
  5. Economics

    What is the difference between a nation's current account deficit and its currency valuation?

    Learn the respective meanings of the two terms, current account deficit and currency valuation, and understand the relationship between them.
  6. Forex Strategies

    How do I use the Haurlan Index to create a forex trading strategy?

    See how the three components of the Haurlan index can be used by forex traders to assess the strength of buyers and sellers for a currency pair.
  7. Forex

    Bitcoin's Main Stumbling Block: Navigating The Law

    Coders created Bitcoin to be decentralized and independent of governments and banks. Authorities are still struggling to create a legal framework.
  8. Investing Basics

    The Most Popular Bitcoin Mining Software

    Success at mining bitcoins depends on the combination of time, knowledge, computer hardware and the complementary software.
  9. Forex Education

    Who are cambrists and how do I become one?

    Discover what a cambrist is, why they are important to exchange markets and what skills you should possess if you are interested in becoming one.
  10. Trading Strategies

    Can forex currency pairs exhibit consolidation patterns?

    Learn how forex currency pairs exhibit recognizable consolidation patterns. These patterns offer traders the opportunity to place low-risk, high-reward trades.

You May Also Like

Hot Definitions
  1. Prospectus

    A formal legal document, which is required by and filed with the Securities and Exchange Commission, that provides details ...
  2. Treasury Bond - T-Bond

    A marketable, fixed-interest U.S. government debt security with a maturity of more than 10 years. Treasury bonds make interest ...
  3. Weight Of Ice, Snow Or Sleet Insurance

    Financial protection against damage caused to property by winter weather specifically, damage caused if a roof caves in because ...
  4. Weather Insurance

    A type of protection against a financial loss that may be incurred because of rain, snow, storms, wind, fog, undesirable ...
  5. Portfolio Turnover

    A measure of how frequently assets within a fund are bought and sold by the managers. Portfolio turnover is calculated by ...
  6. Commercial Paper

    An unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories ...
Trading Center