E-commerce
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BusinessBML imposes restrictions with USD 16 million limit for e-commerce
Bank of Maldives has capped monthly foreign e-commerce spending via MVR cards at $16 million to prioritize essential sectors. New daily limits and transaction restrictions on travel will apply starting tomorrow. Customers can still use USD cards or wait for daily resets to complete non-essential purchases.
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.
