Dollar Limits to Be Eased: President

Speaking at a press conference at the President’s Office, the President said discussions had been held with Bank of Maldives regarding the restrictions. He noted that the bank had indicated it would be able to significantly ease the limits by the end of this month.

BML previously said the restrictions were introduced due to reduced tourist arrivals and pressure on foreign currency inflows. The bank currently provides around USD 1.33 million per day for transactions made through Rufiyaa cards.

The President said the government is continuing efforts to address foreign currency challenges, while BML has stated that the limits are intended to ensure essential foreign currency needs are met during this period.