Pres. Muizzu: BML indicates USD issue will significantly ease up by the end of the month

President Dr. Mohamed Muizzu stated that the Bank of Maldives (BML) has indicated that the US dollar challenges will significantly ease by the end of June 2026. BML introduced measures to limit dollar transactions due to high demand, including restricting overseas card usage, capping e-commerce transactions at 30 per month, and issuing dedicated student cards. These measures have caused concerns among businesses and individuals. The black market exchange rate for USD has been between MVR 18 and MVR 20 for months, impacting the import-dependent economy and raising prices.

President Dr. Mohamed Muizzu stated that the Bank of Maldives (BML) has indicated that the US dollar challenges will significantly ease by the end of June 2026. BML introduced measures to limit dollar transactions due to high demand, including restricting overseas card usage, capping e-commerce transactions at 30 per month, and issuing dedicated student cards. These measures have caused concerns among businesses and individuals. The black market exchange rate for USD has been between MVR 18 and MVR 20 for months, impacting the import-dependent economy and raising prices.

President Dr. Mohamed Muizzu stated that the Bank of Maldives (BML) has indicated that the US dollar challenges will significantly ease by the end of June 2026. BML introduced measures to limit dollar transactions due to high demand, including restricting overseas card usage, capping e-commerce transactions at 30 per month, and issuing dedicated student cards. These measures have caused concerns among businesses and individuals. The black market exchange rate for USD has been between MVR 18 and MVR 20 for months, impacting the import-dependent economy and raising prices.

This story involves 1 source and may affect public understanding of economy / bml.