MALE, April 10 (HNS) – President Mohamed Nasheed has declared the new exchange rate of US dollar as not less than 20 percent of Rf12.85 and not more than 20 percent of the Rf12.85 rate.
Commencing from tomorrow, US dollar can be exchanged for a rate in the range between Rf10.28 and Rf15.42.
President Nasheed has also sent a letter to the governor of Maldives Monetary Authority (MMA) Fazeel Najeeb, requesting him to announce the new exchange rate, as stipulated by Article 13 of the Maldives Monetary Authority Act.
In a statement issued this afternoon, MMA announced that the new “selling price of US dollar is with a 20 percent band to the Rf12.85 rate”, as President Nasheed today made the decision to change the dollar exchange rate with the recommendation of the Directors Board of MMA, according to Article 13 of the Maldives Monetary Authority Act.
MMA, in its statement, also declared that US dollar could be exchanged for a rate in the range between Rf10.28 and Rf15.42.
MMA was not available for a further comment today.
(source: http://www.haveeru.com.mv/english/details/35840 )
