MMA increases USD issued to banks by 32 percent
The move was taken to ease the demand for foreign currency from banks to import basic food items during Ramadan.
MMA
On 18 February 2026 the Maldives Monetary Authority (MMA) announced its decision to increase the amount of foreign exchange issued to Maldivian banks. According to the authority, this measure was taken in order to ensure easy access to food items in the market during the month of Ramadan.
Under the special rule, which will be effective for three weeks from 17 February 2026, the central bank will increase its sales to banks by 32 percent over the normal rule. The move was taken to ease the demand for foreign currency from banks to import basic food items during Ramadan.
According to MMA, the additional issuance of foreign currency will facilitate importers in paying foreign suppliers. This will also facilitate the continuous availability of basic commodities in the domestic market by reducing the constraints faced by the import system at a time when food consumption is generally increasing.
The move is an important step in the central bank's efforts to strengthen the foreign exchange market and support the banking system. According to the MMA, such measures are a special policy of the authority to manage the seasonal demand for foreign currency during the month of Ramadan.
