The Maldives Monetary Authority (MMA) has decided to increase the amount of US dollars sold to banks by 25 per cent each week over the next three months to help meet foreign currency demand during the tourism off-season.

The central bank said the temporary measure is intended to ease pressure on the banking system at a time when foreign currency earnings from tourism typically decline, while demand for overseas remittances remains high. It said the additional supply of dollars will help improve access to foreign currency for essential needs and reduce shortages within the banking sector.

MMA stated foreign currency sold through banks to businesses and the public increased by 72 per cent during the first five months of 2026 compared with the same period last year. Demand has risen particularly for overseas medical treatment and education, with dollar sales for those purposes increasing by 78 per cent over the same period. The amount of foreign currency released for the import of fuel, food, medicines and medical equipment also rose by 30 per cent.

The bank further stated that the increased allocation of US dollars is expected to strengthen banks' ability to meet customer demand throughout the tourism off-season. The central bank added that the measure is part of reforms introduced over the past two years, including stronger foreign exchange regulations, enhanced foreign currency management and closer collaboration with banks to prioritise access to foreign currency for essential purposes.