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A digest of news and opinion from the Maldives.

Dollar Exchange Rate

Black Market Dollar Rate Drops to MVR 17 for the First Time Since Pandemic

Black Market Dollar Rate Drops to MVR 17 for the First Time Since Pandemic

By Maldives Times 1 min read

The price of dollars on the foreign exchange black market has dropped to MVR 17, the lowest it has been since the peak of the COVID-19 pandemic. While the dollar rate was previously around MVR 19.25, it unexpectedly dropped to around MVR 18.50 in early January. Earlier this month, the rate fell again, to between […]

Maldives Sees Dollar Exchange Rate Suddenly Drop in Black Market

Maldives Sees Dollar Exchange Rate Suddenly Drop in Black Market

By Maldives Times 1 min read

While the dollar exchange rate in the black market was around MVR 20, the rate has seen a sudden drop to lower than MVR 19. Until last week, dollar traders in the country purchased dollars for MVR 19.80. However, the rate has decreased to MVR 18.80. The Maldives is facing a severe shortage of US […]