I thought I had currency conversion figured out. I’d traveled across Southeast Asia, handled baht and dong like a pro, so how tricky could the Sri Lankan Rupee be? Spoiler: I made every money mistake in the book within the first 72 hours. Here’s what happened—and how you can avoid the same pitfalls.
1. Airport Exchange Rates Are a Trap
Fresh off the plane, I changed $200 at the airport counter—rookie move. I later realized I lost over 10% compared to what I could’ve gotten from a bank or ATM in town. Convenience cost me a dinner or two.
2. ATMs That Eat Your Card
I picked a random ATM that looked “fancy.” It ate my card for no reason and the bank was closed until the next morning. Stick to well-known banks like Commercial Bank or Hatton National Bank (HNB), and always use machines attached to a branch.
3. Not All Cards Are Created Equal
My travel credit card worked flawlessly in Bangkok but was rejected in multiple Colombo shops. Sri Lanka prefers Visa over Mastercard in many places, and some cards add foreign transaction fees. Have at least two cards—and carry cash.
Quick Tip:
💡 Tell your bank you’re traveling to Sri Lanka before you fly. Random charges from “Negombo” might trigger a freeze!
4. Cash Is King—But Know Your Notes
100 rupees and 1000 rupees can look alarmingly similar when you’re jetlagged. I once paid 1000 LKR for a bottle of water. The shopkeeper smiled, bowed, and didn’t say a word. Know your notes and double-check before handing them over.
5. Tipping: Yes, No, or Maybe?
Tipping isn’t mandatory, but it’s appreciated in restaurants and hotels. I either overtipped or didn’t tip at all because I had no idea what was expected. A good rule: 10% in restaurants, 100–200 LKR for hotel staff.
How to Avoid These Mistakes
- ✅ Use ATMs in banks during the day
- ✅ Get a travel card with no foreign fees
- ✅ Carry small denominations (like 100, 200, 500 LKR)
- ✅ Convert money at reputed exchange places like “Jewellery Lanka” or banks
Bonus: My Ideal Budget Breakdown for a Day in Colombo
- 🍛 Breakfast: 300 LKR
- 🛺 Tuk-tuk rides: 600 LKR
- 🎟️ Attractions: 500–1000 LKR
- 🍽️ Dinner: 800–1200 LKR
- 🏨 Mid-range hotel: 6000–10,000 LKR
Final Thoughts
Managing money in Sri Lanka isn’t hard—once you know the local quirks. Don’t be afraid to ask locals for help (many will happily offer better advice than your travel app). Mistakes happen, but with a little prep, your dollars will stretch further—and your trip will be richer for it.
From USD to LKR: My Money Mistakes in Sri Lanka and How to Avoid Them