The Maldives Monetary Authority has intensified its foreign currency support to commercial banks, increasing dollar allocations by 32 percent for three weeks starting 17 February 2026, to secure uninterrupted food imports ahead of Ramadan.
The intervention comes amid the seasonal surge in demand for essential commodities, as businesses scale up imports to meet heightened household consumption during the fasting month. By expanding routine dollar sales to banks, the central bank is enabling importers to settle payments with overseas suppliers efficiently, preventing supply bottlenecks and ensuring stable market availability.
Since assuming office, President Dr Mohamed Muizzu has overseen a series of coordinated fiscal and monetary measures aimed at shielding households from economic pressure, particularly during Ramadan. These policies have focused on easing the burden of rising living costs, stabilizing essential goods supply chains, and reinforcing foreign exchange liquidity during predictable peak demand periods.
The Maldives, which relies heavily on imported food staples, faces increased pressure on the dollar market during Ramadan. The MMA’s calibrated injection of foreign currency is therefore a strategic step to maintain confidence in the banking system while protecting consumers from potential shortages or price volatility.
Officials note that such seasonal interventions have become a structured component of economic management under the current administration, reflecting a proactive approach to safeguarding food security and supporting families during one of the most significant periods of the Islamic calendar.
By reinforcing liquidity at a critical moment, the government’s broader economic framework continues to prioritize household stability and market resilience.
