Maldives National Chamber of Commerce and Industries (MNCCI) has urged businessmen not to buy US Dollar from the black market.

Speaking at a press conference held at MNCCI office the previous day, MNCCI board member as well as chairman of the night market committee, Hussain Mohamed said he believes that the black market came into existence due to shortage of US Dollar supply. But he said that businessmen have to stop buying US Dollars from the Black market.

“As someone who imports goods, I am also experiencing the difficulties due to shortage of US Dollar supply. But I call upon businessmen not to buy US Dollars from the black market in a higher rate (than the bank rate)” Hussain Mohamed said.

MNCCI said that there were concerned that US Dollar is not available for Rf 12.85 rate set by the government but instead it is available for Rf 13.57 or Rf 14.

Another member of MNCCI said that more problems will arise since the upcoming is Hajj and Umrah pilgrimage and Ramazan.

According to MNCCI Vice President Ismail Asif, there working jointly with Maldives Tourism Promotion Board (MTB), Maldives Association of Construction Industry (MACI), Seafood Association and the government.