Where can I buy Sri Lankan currency? (LKR)

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don'tlikethecold Member

Member since 15 May 2012

don'tlikethecoldMember12 October 2012 06:30:31

Hi

I am trying to buy Sri Lanka Rupees as I'm going on holiday there soon. My husband went to Baata where he has changed money before but the shops (on the main street) were shut and a nearby shop owner told him they's been shut down for quite some time. Not sure if it's true or not but, perhaps my husband wasn't there at the right tome. We also heard that Al Rajhi Thweel Bank stocks a wide range of currencies but we don't know where any branches are. Does anyone know where I can buy Sri Lankan Rupee?

Thanks

tonguetwister Contributor

Member since 05 January 2012

tonguetwisterContributor12 October 2012 16:07:58

190

My understanding was that trying to locate a place that converts currency in Saudi was like finding a golden ticket in a bar of chocolate. The only thing I would be able to suggest is to convert the currency into US Dollars (the Riyal is pegged to the US Dollar) and take the US Dollars back to Sri Lanka and have it converted into local currency there.

The alternative options are:

- Try to convert it in Sri Lanka directly and see if they are able to exchange Riyals
- Transfer the money directly from a Saudi Bank Account to a Sri Lankan one (expensive)
- Western Union/MoneyGram (expensive)
- Check with the Sri Lankan embassy and ask them if there is anywhere you are able to exchange Riyals into Sri Lankan currency.

I wish I could help you more.

houstonian Serial expat

Member since 05 October 2011

houstonianSerial expat13 October 2012 04:59:51

229

tonguetwister wrote:
(the Riyal is pegged to the US Dollar)

Although this statement is technically correct, in my experience, when you buy USD you will usually get less than the pegged rate.

tonguetwister Contributor

Member since 05 January 2012

tonguetwisterContributor13 October 2012 06:13:13

190

Yeah, I've found that to be the case (They have to make money on it somehow!).

But, you can be guaranteed that the official exchange rate will always stay the same and that currency exchanges are going to have a rate close to that official rate.

don'tlikethecold Member

Member since 15 May 2012

don'tlikethecoldMember13 October 2012 08:32:51

Thanks for the info. Think I'll just wait until I get to Sri Lanka and change my SR there.

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