Reserves to strengthen with USD deposits from resorts: Finance Ministry

Reserves will rise as Maldives Monetary Authority (MMA) will receive more foreign exchange due to these regulatory changes and a positive shift in reserves will be observed, Ministry of Finance said.

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Maldives Monetary Authority

Malika Shahid

2024-11-19 12:02:35

With changes in foreign exchange regulations, the government’s reserves are expected to increase to USD 705 million next year, according to the budget forecast.

The budget book projects that reserves will rise as Maldives Monetary Authority (MMA) will receive more foreign exchange due to these regulatory changes. A positive shift in reserves will be observed, Ministry of Finance said.

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