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