|The local currency is the Seychelles Rupee (SCR) which is divided into 100 cents. Coins come in 5, 10, 25 cents, and 1 and 5 Rupee denominations. Notes come in 10, 25, 50, 100 and 500 Rupee denominations.
Visitors to the islands are now entitled to make payments for services/products in Seychelles rupees. The discretion to pay in another currency other than the Seychelles rupee shall lay solely with the visitor.
The only exception arises if the customer is willing to pay in foreign currency. At this point, since the provider of goods and services cannot set an exchange rate, he must use the average traded exchange rate of the day published by the Central Bank of Seychelles site.
Exchanging foreign currency into Seychelles Rupees must only be done at banks or with licensed money dealers such as a bureau de change. Exchange rates will be determined by the market and may differ from bank to bank or at various bureaux de change. Authorised dealers should act as facilitators for payments, receipts or transfers in respect of international transactions.
Exchange rates are featured on the Central Bank of Seychelles website, in the Nation newspaper. They are also available at all banks. The average exchange rate is calculated by the Central Bank of Seychelles from data received from all authorised dealers on a daily basis except Saturdays, Sundays and public holidays.
Visitors should refrain from exchanging money with any individuals who approach them in a public place as there is a very high possibility that those persons are engaging in unauthorized dealing, possibly with counterfeit currency. Occasional exchanges of foreign currency between relatives or friends on a non profit basis are allowed.
BE WARNED! It is a criminal offence to change money with any person or business other than those authorised to do so and who are mentioned above.
Banking hours are generally Monday-Friday 0800hrs-1400hrs, and Saturday 0800hrs-1100hrs. All banks process traveller’s cheques and foreign exchange transactions. Passports are required for visitors’ transactions and nominal commissions may be charged. ATM facilities exist at major banks on Mahé, Praslin and La Digue and at the airport on Mahé and Praslin. Please note that these provide cash in local currency.