Bank of Maldives (BML) has disclosed that it has sold a record-breaking amount of foreign currency over the past two and a half years. From 2024 to the end of June 2026, the bank facilitated a total of $1.7 billion in foreign exchange sales, marking a significant 77% increase compared to the preceding period. This disbursement includes card transactions, telegraphic transfers (TTs), and allocations for education, medical expenses, and travel, with all sectors showing a substantial rise in dollar demand. Notably, the volume of foreign currency provided for card transactions has doubled, while the monthly average of foreign currency sales has quadrupled over the last five years. According to BML, these figures reflect the bank’s steadfast commitment to meeting the Maldives’ foreign exchange requirements.
