Minister of Economic Development and Trade Mohamed Saeed reportedly said the Maldives will soon have the option to settle import payments using Chinese renminbi (RMB).
Reported by Chinese media Xinhua Net, the confirmation was made by the Maldives minister highlighting the island nation government’s objective to diversify its payment options.
Minister Saeed reportedly said that adding an additional currency to settle payments would strengthen the Maldivian Rufiyaa (MVR) against the US Dollar (USD) by 30 to 40% in the coming months.
Additional to this, the minister announced plans by the government to introduce prominent e-wallets in the Maldives, including those originating from Korea, Japan, China, the United States, Singapore, Malaysia, India, and the United Arab Emirates (UAE).