No, they aren’t. Due to exchange regulations in the country, local establishments will determine your payments by applying the exchange rate prevailing at the date of payment.
Credit Cards are extensively used and accepted by local establishments (even in small towns). The most popular card types are Visa and MasterCard, with Amex being used to a lesser extent. It’d be a convenient option to use your Credit Card (valid for international use) whenever possible.
The Re-Exchange (purchase of foreign currency) can only take place on your departure at the Bank counters at the airport. Remember that they will only accept bank receipts (not Money Changer receipts).
Please keep with you whatever receipts of exchange (including ATM receipts) for monies declared. This will be useful when re-exchanging to foreign currency and taking your money back out of the country.
If you intend to take out from Sri Lanka a sum exceeding US $5000(or its equivalent in Euro or some other currency) in currency notes (out of the money brought in), you must declare the total amount brought in, even if it’s less than US$ 15,000.
You can bring any amount of money in foreign currencies into Sri Lanka. It could be in TCs, Bank drafts or currency notes. But, if the total is more than US $15,000 (or its equivalent in Euro or some other currency) that sum must be declared to Sri Lanka Customs.
Banks take 0.5% handling fee and generally a commission, which differs from bank to bank. We recommend you to convert only that amount of money you need for spending.
The exchange of foreign currency is only allowed at banks, money changes and Hotels. You can easily encash Travelers Cheques at any major bank. Thomas Cook and Visa are the most widely accepted.
In this case, it’s better to bring freely exchanged international currencies like USD or Euro. You will find many currency exchange counters at the arrival lounge (after walking past baggage clearance and customs). Also, convert some of your money into local currency for tipping, shopping and other diverse expenses.
It depends on your primary account currency. If your account is in Kuwait Dinar, bring that (or you’ll lose on converting to a third currency). You can convert the currency to Rupees on arrival at the airport.
