Dollar price rises to MVR 21.45, causing business challenges
ADAdhadhu – 5 hours ago
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Businesses are facing significant challenges due to the continuous rise in the foreign exchange rate for purchasing dollars. While a dollar could be bought for MVR 21.25 a week ago, the selling rate has now exceeded MVR 21.45. Traders report financial losses as obtaining dollars becomes increasingly difficult and expensive, leaving them with no option but to increase prices of goods. Some predict the rate could reach MVR 22 by the end of this month.