Economic Minister Mohamed Saeed says the price of the US dollar has started to drop on the black market following the measures taken by the government to curb the illegal sales of the dollar in the country.
Speaking at a press conference held today, the minister said the dangerous problem of artificially manipulated dollars in the black market has not been solved before. He said he has already mentioned that many efforts will be made to prevent this.
He also said that the government's efforts to prevent the selling of dollars at prices above the official rate of the Maldives Monetary Authority (MMA) are now showing success.
The Minister boasted that the black market dollar prices have fallen below the levels of the dollar when the government took office back in 2023.
He added that this was an important step towards economic stability and the financial well-being of the country.
The government has taken numerous steps against the illegal dollar-selling market by setting up a task force with law enforcement agencies to weed out such illegal businesses.
