Dollar Shortage
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BusinessBlack market dollar rate hits record MVR 22.45
The US Dollar rate on the Maldivian black market has hit a record high of MVR 22.45, far exceeding the official rate of MVR 15.42. Despite government efforts to stabilize the currency, a severe shortage and high debt obligations continue to drive prices up. This surge is causing significant inflationary pressure on the local economy.
BusinessBML boosts USD supply for TTs for three weeks
Bank of Maldives is increasing US Dollar allocations for Telegraphic Transfers for three weeks to combat a severe currency shortage. This move follows a 51% increase in weekly dollar supply from the central bank. The intervention aims to stabilize the foreign exchange market and reduce reliance on record-high black market rates.
Business
MMA to raise exchange threshold for non-tourism businesses
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Nasheed rejects claims that media speculation is driving USD rate
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Black market dollar rate hits record MVR 22.10
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Black market dollar rate hits MVR 21.80
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Black market dollar rate hits record high of MVR 21.75
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Adhadhu launches tracker as dollar continues to surge
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US Dollar rate crosses MVR 21.70 for the first time in history
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Black market dollar rate passes MVR 21.45
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Zariyand question fiscal policies with record USD inflows
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Usable reserves fall to USD 248 million
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"False rumours about USD shortage to drive up black market rates"
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Rufiyaa plummets to record lows as USD rate hits MVR 21.25
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USD 1 billion exchanged since mandatory conversion
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Taking up to two weeks for TTs to reach suppliers: Eva
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Prices of essential goods surged by 8 percent
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Black market dollar rate surges past MVR 21
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Black market dollar rate hits MVR 20.80
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