Banks reduce dollar issuance; changes for students abroad

MMA said that it will continue to provide dollars through banks to Maldivian students pursuing higher education abroad.

7 January 2023

Only 20% of tourism dollar revenue circulate in Maldives: MP Esa

The direct benefit of the guesthouse business to the economy is now greater than that of running resorts, he said.

25 October 2023

Dollar rate speculation rises; MMA to hike supply to businesses

The MMA reports that most of the dollars it receives are redistributed to the economy.

17 July 2025

USD revenue sees boost, but black market rate remains at MVR 17

According to MIRA, the number of tourists arriving in the country increased by 12% in December as compared to 2021.

11 February 2023

Maldives inflation spikes again; food prices hike

Traders believe that the main reason for the rise in prices is the difficulty in obtaining dollars and the appreciation of the dollar.

1 August 2024

Parliament passes 40% dollar conversion requirement for resorts

Resorts will be required to convert 40% of their foreign currency revenue for each month through a bank by the 28th of the following month.

26 August 2026

BML introduces online platform for mandatory dollar exchange

The new Foreign Exchange Act allows resorts to either exchange $500 per tourist or 20 percent of their total income into Maldivian Rufiyaa.

28 January 2025

Don't doubt the dollar

FX analysts at HSBC and Morgan Stanley are among those who reckon that the dollar is peaking and will weaken next year.

21 November 2022