No relaxation on currency exchange regulations, will be drafted into a law: Governor

Central Bank, Maldives Monetary Authority (MMA) Governor Ahmed Munawar said today that there will be no relaxation of the regulation which requires resorts and guesthouses to exchange dollars through local banks. He said that efforts are currently underway to formalize the existing regulation into law.

MMA had opened a public comment period on the "Foreign Currency Bill" last night, sparking rumors that the dollar amounts required to be exchanged under the regulation might have been relaxed.