BML Sells USD 345M in Five Months

Bank of Maldives sold USD 345 million in foreign currency during the first five months of 2026, reflecting continued strong demand for US dollars.

According to figures released by the bank, average monthly foreign currency sales reached USD 69 million between January and May. During the same period, customers spent USD 198 million through debit and credit cards.

BML also recorded 3.1 million overseas card transactions and processed 45,764 telegraphic transfers (TTs), highlighting continued demand for foreign payments.

The bank said dollar sales exceeded dollar purchases by USD 69 million during the period. Despite the outflow, BML noted that its US Dollar Net Open Position remains within the limits required by the Maldives Monetary Authority.

The figures indicate sustained demand for foreign currency, driven by imports, travel, online shopping, education and other overseas expenses.