Dollar ATMs to be installed in three Vaavu islands before March 2026

Dollar ATMs will be installed in three islands of Vaavu atoll before March next year, President Dr Mohamed Muizzu has announced.

The President, who began a tour of the atoll yesterday, said the move would support tourism by making foreign currency more accessible.

Vaavu, often marketed as “Wow Atoll” for its natural beauty, is one of the country’s most popular atolls for tourism.

The ATMs will be set up in Fulidhoo, Felidhoo and Keyodhoo, where large amounts of dollars circulate through guesthouses, resorts and tour operators.

Meeting residents of Keyodhoo, President Muizzu said the government’s role was to add momentum to island development. He assured them the ATMs would be operational before March.

Tourism in Vaavu has grown significantly in recent years, driven in part by the popularity of the atoll’s shipwreck site. The wreck, near Keyodhoo, has become a major draw for divers and day trippers from Male' atoll islands and resorts, and is widely promoted in guesthouse tour packages.

The vessel, which ran aground near Keyodhoo, broke loose during the last southwest monsoon but has since been anchored nearby to prevent it drifting further.