As the price of the US dollar continues to surge on the Maldivian black market, Adhadhu has launched a "Dollar Tracker" to provide real-time updates on exchange rate fluctuations.
This new feature allows the public and business owners to easily monitor current market rates and historical trends in one centralized location.
The black market rate for a US dollar currently stands at MVR 21.70, marking the highest rate ever recorded in Maldivian history. This spike comes despite previous assurances from President Mohamed Muizzu that the dollar's value would not increase.
While the official exchange rate set by the Maldives Monetary Authority (MMA) remains at MVR 15.42, the current black market rate represents a significant premium of MVR 6.28 per dollar. This is a 40.73 percent increase over the official government rate.
According to the tracker, the record high of MVR 21.70 has been maintained since July 29, 2026.
Demand for the dollar on the black market has intensified due to difficulties in obtaining foreign currency through the formal banking system for imports, coupled with the substantial amount of foreign currency required for external debt repayments.
The worsening dollar shortage is driving up the cost of goods and services across the country.
The Dollar Tracker is accessible on Adhadhu’s homepage, with more comprehensive data and analysis available on their business section.
