Maldives Monetary Authority (MMA)
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BusinessUsable reserves fall to USD 248 million
The Maldives' usable reserves fell to USD 248 million in June, a 4.5% monthly decline driven by rising foreign currency expenditures. The Maldives Monetary Authority attributed the drop to increased dollar sales to banks to stabilize the national currency. Overall gross reserves have plummeted by USD 645 million since March.
BusinessUSD 1 billion exchanged since mandatory conversion
The Maldives has seen over USD 1 billion exchanged at local banks since implementing mandatory foreign currency conversion for tourism businesses. Current data shows an average monthly conversion of USD 56 million, exceeding initial estimates. While most firms comply, the central bank is preparing legal actions against those failing to adhere.
News
This government has printed MVR 4 billion: Ameer
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Is This BML's Problem or the State's?
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Maldives Financial Expo begins in Hulhumale'
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MIB wins Excellence in Financial Inclusion Award
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MMA honors financial pioneers at inaugural awards ceremony
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Muizzu's promise to ease dollar limits unmet as July begins
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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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MMA offers MVR 25,000 grand prize for Financial Expo
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Muizzu dismisses reports of plan to sell off DBM shares
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Gross reserves decline, usable reserves see improvement
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Is BML's 'CCC-' rating a win?
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Foreign reserves plunge to USD 717 million
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MIB announces service hours for Eid holidays
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License granted to bank founded by Muizzu's Advisor
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BML admits controls on USD sales to firms
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Saudha refuses to reveal "businessman" who gave her MVR 2.4mn
Business