Dollar Black Market
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BusinessBusinesses decry MPL dollar fees
Maldivian businesses are criticizing Maldives Ports Limited for requiring stevedoring fees in US dollars despite government efforts to promote the Rufiyaa. Importers claim the policy forces them into the black market for currency, increasing costs and straining the local economy. MPL previously defended the move as a way to curb dollar abuse.
NewsSix expats arrested for trying to smuggle out foreign currency
Six foreign nationals were arrested at Velana International Airport for attempting to smuggle approximately MVR 3.8 million in various currencies hidden inside cereal packets. This operation is part of a broader government crackdown on the illegal foreign exchange black market to stabilize the country's economy.