The price of a dollar on the black market has climbed to MVR 20.05 due to the tourism off-season and the government's foreign currency exchange policy.
Five days ago, the rate was MVR 20 per dollar, but the rate had climbed to MVR 20.05 per dollar on July 15.
This is a record high in recent history. During the Covid-19 pandemic, the dollar rate in the black market was MVR 19.50.
The government and the central bank have not commented on the dollar shortage crisis.
During the parliament session on Tuesday, lawmakers expressed frustration as the central bank governor Ahmed Munawar "was in hiding."
"The dollar rate has gone up to an unexpected level. It has gone up to a level we never dreamed of. And it continues to go up," Kendhoo MP Mauroof Zakir said.
He called to summon Munawar to the People's Majlis and urged a no-confidence motion against the governor.
