President Dr Mohamed Muizzu has revealed that USD 214 million has been deposited and exchanged with local banks under the Foreign Exchange Act. The President revealed the information made a press conference at the President’s Office on Saturday.
The President said there is good support for foreign currency deposits in banks. If this cooperation continues, the credit card limit imposed on the national bank, Bank of Maldives (BML)’s cards will be increased and the current USD 500 provided to travelers departing from the Maldives at bank rate will also be increased, he said.
“I am very confident. I have announced these targets publicly on multiple occasions. It will be done on the announced dates,” Muizzu said.
