Access to "usdmvr.com," a website that crowdsources user data to track black market dollar rates, has been blocked from Maldivian IP addresses.
Users of the site reported on X that while the platform was previously accessible, it can now only be reached by using a Virtual Private Network (VPN) to mask their location with a foreign IP address.
The blocking of the popular exchange rate tracker comes as the black market rate for the US Dollar surged past MVR 22 for the first time in the country's history.
The dollar rate climbed to MVR 22.10 on the black market yesterday—a premium of MVR 6.68, or 43.3 percent, over the official exchange rate.
As the dollar rates continue to climb daily, the government maintains that the crisis is a consequence of the previous MDP administration’s decision to print money.
Despite these claims, the government had previously assured that black market rates would stabilize following the implementation of higher dollar-denominated tax rates, increased airport fees, and new mandatory foreign currency surrender requirements for tourism businesses. However, market trends are currently moving in the opposite direction of the government’s projections.
In response to the escalating exchange rates and to keep the public informed, Adhadhu has launched a dollar tracker.
The tracker, available on our website, utilizes archived data dating back to 2010 to visualize historical black market trends. Additionally, the platform provides users with a comprehensive archive of news coverage related to the Maldives' foreign exchange black market.
