MMA Urges Tourism Industry to Retain Higher Percentage of USD Revenue Within Banking System
The Maldives Monetary Authority (MMA) has held closed-door discussions with the tourism industry with a view to increasing the amount...
US$72 Million Remitted Overseas in 2023: MMA
Remittances amounting to US$72 million (approximately MVR 1.1 billion) were sent overseas in 2023, the Maldives Monetary Authority (MMA) confirmed...
Will Make It Mandatory for Businesses to Conduct Currency Exchanges Through Banks: Muizzu
Businesses in the Maldives will be banned from selling their US dollars on the currency black market, President Mohamed Muizzu...
Black Market Dollar Soars Above MVR 18.20 Amid Supply Shortages
The black-market dollar rate has surged above MVR 18.20 per dollar, driven by a sharp rise in demand and dwindling...
Government Walks Back Decision to Raise Limit for Students Abroad, Acknowledges USD Shortage
The administration’s decision to increase the per month US Dollar (USD) withdrawal limits for students, with Bank of Maldives (BML)...
PCB Abruptly Removes Five Solih-Era Appointees From BML Board
Five appointees by the previous administration to the board of the Bank of Maldives (BML), including the current chairman, had...
Government Working to Sort USD Exchange Rate Issue: Minister Saeed
Minister of Economic Development and Trade Mohamed Saeed has said that the government is already working to address the US...
State’s US Dollar Earnings Jump 12%
The state has received, as US dollar revenue, US$851 million, or the equivalent of MVR 13 billion, in revenue as...
