Bank of Maldives (BML) has said it sold USD 136 million in telegraphic transfer (TT) transactions across 40,944 transactions as of last month.
Speaking at a press conference, BML’s Chief Executive Officer and Managing Director Mohamed Shareef shared statistics on foreign exchange transactions and sales.
According to the bank, average monthly TT sales rose to USD 34 million this year, up from USD 15 million in 2025.
In total, the bank sold USD 296 million for foreign point-of-sale (POS) transactions and telegraphic transfers, compared to a monthly average of USD 47 million in 2025. Over the past four months, the monthly average has increased to USD 74 million.
Monthly TT breakdown:
- January: USD 35 million (10,838 TTs)
- February: USD 34 million (10,551 TTs)
- March: USD 37 million (10,600 TTs)
- April: USD 30 million (8,955 TTs)
As of end of April, USD 160 million was spent on debit and credit card transactions, averaging USD 40 million per month. Foreign exchange inflows stood at USD 1.58 billion as of end of April, up from USD 1.26 billion in the same period last year. Remittances stood at USD 1.45 billion as of end of April this year, compared to USD 1.03 billion during the same period last year.
For cross-border transactions, USD 306 million was received from abroad while USD 414 million was sent overseas.