1 Rufiyaa

The Maldives Monetary Authority was established in 1981, making this 1982 issue part of the very first coinage released under the new central banking framework that replaced the Maldives Monetary Board. The transition was driven largely by pressure to formalize foreign exchange controls as the tourism sector began generating significant hard currency flows through the newly opened resort economy.

Copper-nickel clad steel was chosen over solid copper-nickel primarily on cost grounds — a sensible decision for a small island nation with no domestic metal production and high import costs for raw materials.