President Dr. Mohamed Muizzu has stated that the measures implemented by the government to address the foreign exchange challenges are based on expert research and extensive consultations, ensuring positive outcomes. Speaking on a program aired by PSM, the President remarked that despite political rhetoric, these strategic steps taken to improve the nation’s economic situation will yield tangible benefits. Furthermore, the Maldives Monetary Authority (MMA) is currently working on regulatory amendments to strengthen the financial system. These reforms aim to prioritize the use of the Maldivian Rufiyaa for domestic transactions and mandate that businesses generating foreign currency revenue exchange a specific percentage through the banking system.
