Dollar Shortage
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BusinessBlack market dollar rate hits MVR 20.70
The US dollar exchange rate on the Maldives' black market has hit a record high of MVR 20.70 due to a tightening supply. Despite government assurances that prices would remain stable, the shortage has forced the Bank of Maldives to impose transaction limits and launch new investment schemes to bolster its foreign currency reserves.
BusinessMuizzu's promise to ease dollar limits unmet as July begins
President Muizzu’s promise to ease dollar transaction limits on Maldivian Rufiyaa cards by late June remains unfulfilled. Despite his assurances, the Bank of Maldives has maintained restrictions due to foreign currency shortages. Citizens continue to face difficulties with overseas purchases as the bank prioritizes bolstering its own reserves.
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A Dollar for 19 Rufiyaa: The Devaluation No One Announced
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BML to purchase USD with 25 percent profit
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MIB restricts dollar limits on MVR cards for some platforms
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MIB offers higher profit rates for Promotional GIA
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Yameen warns dollar could surpass MVR 21 within this year
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Black market dollar rate hits record MVR 20.50
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Is BML's 'CCC-' rating a win?
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BML faces backlash after blaming merchants for failing payments
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BML dollar controls to be eased by end of June
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BML seeks USD 300 million in sukuk to ease liquidity crunch
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Concern as BML operates without CFO for six months!
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BML sparks privacy outcry over Immigration data access
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BML collaborates with Immigration to stop misuse of cards
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BML fixes a daily budget for e-commerce sites
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BML admits controls on USD sales to firms
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Muizzu breaks promise to double overseas USD limit for travelers
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BML warns of dollar restrictions due to tourism plunge
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