The US dollar shortage in Maldives is growing high now. To do a money transfer from any bank in maldives is a difficult task. Earlier for doing a money transfer we did not had to worry about buying physical dollars, we could do the payment to the bank in local currency, but now we need to buy dollars and make the payment to the bank in US dollars.
Bank was the source where we could buy dollars earlier but the banks are not selling dollars now. How will an expatriate send money to his family if this is the condition? Western union was one of the most preferred way of sending money home, but that is closed for more than one two months now for the same reason.
Other option what I see now is to send money by TT in other currency like euro or pounds which is possible but in this case we lose lot of money as the conversion rate is high.
Importers in maldives are also facing tough time
Acute US Dollar shortage in Maldives
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