Currency of The Maldives. The Republic of Maldives is an island nation consisting of 1,192 islands in the Indian Ocean. It is the smallest of the Asian countries in both population and area. The capital and largest city is Male. The official language is Dhivehi. Independence from United Kingdom: July 26, 1965. Monetary system: 1 Rufiyaa (Rupee) = 100 Lari.