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Mauritius: The Central Bank supports the appreciation of the rupee against the US dollar




The Central Bank of Mauritius has intervened in June on the interbank market by purchasing 23.25 million dollars.
 
A measure aimed at ensuring the stability of the Mauritian rupee against the US dollar and have upper hand in inflation in the country. By weakening the US dollar which weighs on imports which increases prices, the Central Bank wants to support an appreciation of the rupee against the US dollar.
 
During the first quarter 2015, the Mauritian rupee had thus lost 10% of its value against the US dollar.
 
A strong dollar against the Mauritian rupee mechanically drains in its wake higher import prices and more expensive products for Mauritian consumers. The price of rice, dried beans, oil and meat prices are particularly affected.



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