Maldives tourism braces for worst off-season in years

According to some traders, with the off-season, the blackmarket rate of USD will likely reach MVR 18.

29 May 2023

Black market dollar purchase can be in tax statement: Ameer

"The result is that businesses are losing money, the price of commodities in the market has gone out of hand and people's pockets are poor".

8 March 2023

Nazim vows to mandate 60% dollar exchange with local banks

Nazim, who served as Defense Minister in former President Abdullah Yameen's government, said he was concerned about Maldives's foreign policy.

31 July 2023

Usable reserves hike to MVR 151m

Reserves have been declining since May this year and this is the first time the reserve has gone up since then.

7 October 2023

7 foreigners detained for selling dollars on black market

Immigration said the aim is to expand these operations in the future and find a quick solution to the problems surrounding illegal immigrants.

15 March 2024

Govt set to fail on pledge to boost card dollar limit

BML on Wednesday said it is still in discussions with the Ministry of Finance to increase the dollar transaction limit on its cards.

31 January 2024

Local held with $60,000 cash amid new clampdown on outflow

The new clampdown on foreign currency outflows has sparked criticism with many saying that locals should be exempt from the tightened regulation

13 May 2024

Maldives pres establishes first development bank

The bank will also assist in fostering a greater interest in maintaining foreign exchange within the nation's banking system.

17 May 2024