New regulation will create demand for Maldivian Rufiyaa in tourism sector: Governor

Maldives Monetary Authority (MMA) Governor Ahmed Munawar has said that the new Regulation on Foreign Currency and Regulation on Money Changing Businesses will help create a stronger demand for the Maldivian Rufiyaa in the tourism sector.

Speaking on PSM's Raajje Miadhu program, Munawar said that tourists currently do not engage with the local currency during their visits, reducing the demand for it. He noted that this practice is uncommon compared to other countries, where tourists typically use the local currency.