Seychelles Money | So Seychelles

Seychelles Money

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Before you arrive in the Seychelles, it is helpful to understand the local policies when it comes to purchasing goods and services during your stay. While many local establishments are happy to take Euros or U.S. Dollars in payment, there are still many places where it is easier to make your transactions with the local currency.

The Local Currency

The Seychelles Rupee (Rs) is the official currency of the Seychelles. One Rupee = 100 cents. The currency is divided into both paper and coin form. Currency is minted in the following denominations.

Paper Notes: Rs500 – Rs100 – Rs50 – Rs25 – Rs10

Coins: Rs5 – Rs1 – 25 cents – 10 cents – 5 cents – 1 cent

The Exchange Rate

As is the case with all currencies, the exchange rate for the Seychelles Rupee varies from day to day. There is also some variation between the rates charged by banks and other authorized exchange facilities. The latest median exchange rates as of February 22, 2012 are illustrated in the chart shown below.

US Dollar ------------------------------- 14.0109 Rupees
Euro -------------------------------------- 18.6731 Rupees
British Pound --------------------------- 22.1134 Rupees

100 Rupees = 7.14 US Dollars
100 Rupees = 5.36 Euros
100 Rupees = 4.52 British Pounds

Visitors can exchange their currency for Rupees at any bank. They are required to show a passport before the transaction can be completed. You can also exchange currency through a money dealer at an official Bureau of Exchange.

Visitors should be cautioned to never attempt to exchange their currency with individuals who may approach them on the street or in some other public place. It is illegal for any non-authorized individual to exchange currency. While they may promise you a better rate than you can get at the bank, you may also wind up with counterfeit money.

What Do Things Cost in the Seychelles?

It is nice to have an idea of how much it might cost you to buy a meal or some other common items while you are visiting. It is more expensive to buy the same consumable goods directly from the hotel than it is to venture in to town and buy them from the local shopkeepers.

Following are a few examples from a recent price survey of the cost of goods and services in the Seychelles. For convenience, prices are shown in Euros. You can use the above chart to convert the amount to Dollars, Pounds or Rupees. Local retail prices and hotel prices are shown for comparison

• Bottle of Water: Retail (R) 0.81 - 1.05 // Hotel (H) 1.60 – 4.37

• Bottle of Coca Cola: (R) 0.81 – 1.05 // (H) 3.00 – 6.00

• Pack of Cigarettes: (R) 2.62 // (H) 5.00 – 12.00

• Single Serve Pizza: (R) 5.00 – 6.00 // (H) 5.62 – 10.48

• Lunch: (R) (takeout) 2.18 – 2.81 // (H) 9.00 – 29.00

• Car Hire for a Day: (R) 40.00 – 55.90

• Roundtrip Ferry Ride: Victoria – Praslin 82.00

• Bus Fare: (R) .31 - .63

Currency Restrictions

There is no limit on how much foreign currency you can bring into the Seychelles. There is also no limit on the amount of foreign currency that can be taken out of the Seychelles. The local currency does have a Rs2000 limit on the amount that can be brought in or taken out of the country.

Credit Cards

All major credit cards and debit cards are widely accepted by merchants in the Seychelles. If possible, only carry enough Rupees for the day and charge what you can to your credit cards. This is a safer way to transact business.

ATM Machines

There are ATM machines located in Victoria and Praslin. They are located in banks as well as in shopping areas and other various places throughout the town. ATM machines only pay out in Rupees.

Traveler Checks

These financial instruments are widely accepted by hotels and many businesses. They are a smart way to carry money as they can be replaced if lost or stolen. It is suggested that travelers purchase money orders in either dollars, euros or pounds in order to avoid extra currency conversion charges.

Duty-Free Shopping at the Airport

If you want to take some duty-free purchases with you on your return flight home, the duty-free shop only takes credit cards of foreign currency. Visitors over the age of 18 can bring certain items into the country without incurring any customs duty. Some of those items include up to 2 liters of wine, one video camera, 200 ml of perfume, small electronics and a number of other items that do not exceed Rs3000.

Before You Leave

Before leaving the Seychelles, you should exchange any Rupees you may still have in your possession for your native currency. While some people like to keep a few of the colorful bank notes or coins as a souvenir, remember, you can not take more than Rs2000 out of the Seychelles.