The Bank of Maldives recorded a substantial expansion in international financial activity during the first quarter of the year, as a robust influx of foreign capital was met by a significant rise in outgoing transfers.
According to statistics released by the institution, USD 1.27 billion entered the country from international sources between January and March, while USD 1.04 billion was transferred abroad. These figures represent a sharp acceleration of the macroeconomic trajectory established in 2025, a year in which the bank facilitated USD 3.69 billion in incoming capital against USD 3.28 billion in outgoing funds.
The rise in cross-border activity has prompted officials to increase specialised foreign currency allocations to meet the evolving operational demands of the domestic economy. The bank stated that the volume of US dollars issued for telegraphic transfers has grown to support the essential requirements of both commercial enterprises and the general public. During the first quarter, the institution sold USD 106.2 million designated for such transfers, representing a monthly average of USD 35.4 million, a marked increase from the USD 14.6 million monthly average recorded throughout 2025.
A parallel expansion was noted in consumer-level spending, with the bank disclosing that cross-border transactions via credit and debit cards rose to a monthly average of USD 40 million during the first quarter, up from the USD 32.5 million average sustained last year. Representatives for the bank affirmed a commitment to providing uninterrupted foreign currency assistance to ensure liquidity and domestic stability.