Maldives Monetary Authority (MMA) has announced a temporary increase in the supply of US Dollars(USD) to commercial banks in an effort to ease foreign exchange pressures during the tourism off-season.

In a statement released today, the central bank said it will increase the amount of USD sold to banks by 25 percent.

The measure will take effect on June 28 and remain in place for three months.

According to the MMA, the decision was made to address continued demand for overseas transfers and foreign currency services during a period when tourism earnings typically decline.

The additional supply is intended to improve liquidity within the banking system and help meet essential foreign currency requirements.

The central bank also reported a significant rise in foreign currency support provided to banks this year.

During the first five months of 2026, the amount of foreign currency supplied to banks increased by 72 percent compared to the same period last year.

Demand for foreign currency has grown sharply due to spending on medical treatment, education, and overseas travel.

The MMA said foreign currency allocations for medical and educational expenses rose by 78 percent during the first five months of the year.

At the same time, allocations for the import of fuel, food, medicines, and medical equipment increased by 30 percent compared to the corresponding period in 2025.

The MMA said the temporary increase in dollar sales is expected to ease foreign exchange constraints, strengthen banking services, and improve access to foreign currency for businesses and individuals during the slower tourism season.