The opposition MDP has sent a letter to the Parliament today asking the MMA Governor to appear before the Public Accounts Committee of the Parliament for accountability on the rising dollar rate.
In a letter addressed to the chairman of the Public Accounts Committee, MP for Maamigili Constituency Gasim Ibrahim, MDP's Micro Economic Committee Chairman, Hussain Amr, said that in July of 2024, 1 dollar was selling for MVR 17.40 in the black market, but it is now at MVR 22.10.
The party noted that it is MVR 6.68 higher than the official exchange rate, which will have a major negative impact on the cost of living of the common people.
The MDP letter proposes six issues for the governor to be questioned. These include clarifying why the dollar has appreciated so much, why an open black market is not being stopped, and what the MMA's plan is to overcome this situation.
The MMA letter further said that it is the legal responsibility of the MMA to maintain the value of the rupee and the Governor should be held accountable to the people. If this situation is caused by government policies, it should also be clear.
