Hi, I'm Viyu. Ask me about the stories collected here. I answer only from them, with numbered links to the outlets that published them, and I say so when they do not cover it.
Maldives’ black market dollar rate declines amid new currency regulations
Maldivian business figures report that the black market US dollar rate has fallen by 50 laari from MVR 19.20, attributing the decline to the Foreign Currency Act (Law No. 32/2024) that took effect on January 1, 2025. The Act requires businesses earning foreign currency, including tourist resorts and guesthouses, to convert a specified portion of their earnings through local banks, and President Dr. Mohamed Muizzu has said it will be implemented with no exemptions.
Nothing to compare yet. If another monitored source reports it, its headline appears beside this one.
Figures in these reports
as written, with the sentence they come from
MVR 19.20black market US dollar exchange rate before declineThe Standardthe black market dollar rate, previously at MVR 19.20, has now decreased by 50 laari
Word for word from the report in The Standard. Open the report
50 laaridecline in black market dollar rateThe Standardthe black market dollar rate, previously at MVR 19.20, has now decreased by 50 laari
Word for word from the report in The Standard. Open the report
USD 25 per tourist per month or 20% of their monthly salesrequired currency conversion for guesthousesThe Standardguesthouses must convert USD 25 per tourist per month or 20% of their monthly sales
Word for word from the report in The Standard. Open the report
