The Maldives, Known for its Stunning Oceans and Luxurious Vacations, has Taken a Significant Step in its Economic Policies by Announcing a Complete Cessation of the use of the US Dollar in Trade Transactions

Twitter Post By Jamie McIntyre

One more country ditches dollar.

The Maldives, known for its stunning oceans and luxurious vacations, has taken a significant step in its economic policies by announcing a complete cessation of the use of the US dollar in trade transactions.

This decision reflects the changing dynamics of global trade, particularly for the Maldives, whose trade activities are predominantly with China and India. Both countries are actively promoting the use of their respective currencies in international transactions, aligning with their broader economic strategies.

This move by the Maldives signifies a shift towards strengthening trade relations with these Asian giants, further diversifying its economic engagements away from traditional reliance on the US dollar.