Black Market Dollar Soars Above MVR 18.20 Amid Supply Shortages

The black-market dollar rate surged above MVR 18.20 due to high demand and low supply. Traders report severe shortages for large transactions. Analysts predict further rises as banks tighten dollar limits. The government failed to resolve the crisis within a promised three-month deadline. Bank of Maldives further restricted dollar transactions; President Muizzu's campaign promise to increase card limits remains unfulfilled, and new cards have even lower limits.

The black-market dollar rate surged above MVR 18.20 due to high demand and low supply. Traders report severe shortages for large transactions. Analysts predict further rises as banks tighten dollar limits. The government failed to resolve the crisis within a promised three-month deadline. Bank of Maldives further restricted dollar transactions; President Muizzu's campaign promise to increase card limits remains unfulfilled, and new cards have even lower limits.

The black-market dollar rate surged above MVR 18.20 due to high demand and low supply. Traders report severe shortages for large transactions. Analysts predict further rises as banks tighten dollar limits. The government failed to resolve the crisis within a promised three-month deadline. Bank of Maldives further restricted dollar transactions; President Muizzu's campaign promise to increase card limits remains unfulfilled, and new cards have even lower limits.

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