MMA moves to reduce excess money in the economy

3 hours ago

The Maldives Monetary Authority (MMA) has decided to further tighten its monetary policy and introduce new measures to reduce the surplus liquidity of the Rufiyaa circulating in the economy. In a statement, the MMA said its board has approved two major steps aimed at controlling excess money supply: increasing the minimum reserve requirement (MRR) that banks must hold with the MMA,