Rufiya world’s second worst-performing currency: Bloomberg

International financial news agency Bloomberg has reported that the Maldivian rufiya is the world’s second worst-performing currency, after the Suriname dollar and above the Kenyan shilling.

The Maldives has been faced with a shortage of foreign currency for over a year due to a high budget deficit, spiralling state budget, economic disconnect from the high-earning tourism industry and political obstacles to reducing expenditure or implementing tax reform.

Earlier this year the government introduced a managed float of the currency within 20 percent of the pegged rate of Rf12.85 to the dollar, in a bid to overcome black market currency trading. The exchange rate shot to the maximum permitted Rf15.42, where it remains, and convertibility of the currency into dollars remains sporadic.


4 thoughts on “Rufiya world’s second worst-performing currency: Bloomberg”

  1. hahahha, i am not suprised. at least we are the worlds second in something:-)

  2. Really surprised! Would you please check it again whether we are second in top or bottom.. he he….
    Really I thought our currency would perform at an average level, not among the highest not among lowest as well. This is some thing serious!!!


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