Nasheed Urges Government to Lower Dollar Rate to MVR 19 Within 10 Days
12 އޯގަސްޓު 2026 | ބުދަ 13:52Attributing the Maldives' current dollar shortage to excessive government spending, former President Nasheed has called for the exchange rate to be brought down to 19 Rufiyaa within the next 10 days. He further expressed grave concern over the skyrocketing cost of living and urged the administration to implement immediate measures to provide financial relief to the public.
MDP Chairperson and former President Mohamed Nasheed speaks during a press conference held on Wednesday. | MDP Secretariat
Former President and MDP Chairperson Mohamed Nasheed has called on President Dr. Mohamed Muizzu to bring the dollar exchange rate down to 19 Rufiyaa within 10 days.
During a press conference held by the MDP on Wednesday, Nasheed addressed the ongoing dollar shortage in the Maldives. He stated that the current difficulties in accessing foreign currency are a direct result of excessive government spending and wasteful fiscal management.
Nasheed has called for the dollar exchange rate to be brought down to 19 Rufiyaa within 10 days and further reduced to 17 Rufiyaa within one month.
We are calling upon President Dr. Muizzu to bring the dollar exchange rate down to 19 Rufiyaa within the next 10 days. We are not even asking for the previous rate of 15.42, which has already been surpassed. We urge President Dr. Muizzu to further reduce the rate to 17 Rufiyaa within one month.Mohamed Nasheed
Furthermore, Nasheed expressed concern over the rising cost of living. He emphasized that with prices escalating, this is not the time for ministers to be preoccupied with TikTok or bringing political theatrics into people's homes.
I would challenge President Dr. Muizzu to point me to any shop where I can find a kilogram of onions for less than 14 Rufiyaa today; I would be delighted if he could show me where. Just last week, we were buying cabbage for 65 Rufiyaa, yet he must be aware that it is now impossible to find for less than 105 Rufiyaa per kilogram. If Dr. Muizzu can provide a kilogram of bananas for less than 70 Rufiyaa, I would certainly buy them for my home. And if he can find me a single apple for less than five Rufiyaa and fifty Laari, I would be more than happy to eat it.Mohamed Nasheed
Public concern has intensified following President Muizzu's assumption of office, as citizens grapple with rising commodity prices and persistent difficulties in accessing US dollars.
