President Dr. Mohamed Muizzu has announced that the dollar limit for people travelling overseas for medical treatment will be increased from August 1.
In a post on X, Muizzu said the national bank will issue USD 1,000 for people travelling overseas for medical treatment starting August 1.
He also said the dollar limit for those who receive assistance from the National Social Protection Agency (NSPA) will be raised to MVR 2,000.
His decision came amid a record-high in the black market dollar rate, which reached MVR 20.20 per dollar last week.
This has worsened the dollar shortage crisis, with businesses struggling to purchase dollars for imports even at the black market rate.
