Bank of Mauritius Spends Rs 10.7 Billion To Stabilise The Mauritian Rupee

The Bank of Mauritius (BoM) has spent Rs 10.7 billion since the beginning of the year to purchase US$ 309.5 million.

BoM

For the first trimester of 2015, the rupee as measured by the Mauritius Exchange Rate Index, has spiralled down by 7.8 %. This happened at a time when the US$ had gone beyond Rs 36 – this development has caused several countries to attempt to stabilise their national currencies.

The depreciation of the rupee was contained during the second trimester to 0.6 %. By the end of the first six months of 2015, though, the rupee had lost 8.5 % of its value, as per the estimations of the BoM. The latter, therefore, spent an average of Rs 1.3 billion per month on the American dollar for the first 8 months of this year to stabilise the rupee which led to a total of Rs 10.7 billion.

Add comment

Your Header Sidebar area is currently empty. Hurry up and add some widgets.

Pin It on Pinterest