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Mauritius: The central Bank of Mauritius buys in one year euros and dollars for 35.6 billion rupees




Between June 2013 and June 2014, the Central Bank of Mauritius (BOM) has made the acquisition of foreign currency (dollars and euros) for an amount of 35.6 billion rupees to supply its reserves and ensure the country a coverage of 6 months of imports.
 
In one year, the Central Bank of Mauritius has thus bought some 478 million dollars for about 14.3 billion rupees.
 
At the same time, the BOM has performed financial operations to obtain 532 million euros, that is, around 21.3 billion rupees.

This purchase of foreign currency would thus allow to “neutralise” the Mauritian rupees, “which has depreciate against euro and pound”, while resisting the American dollar, as indicates the Le Défi Quotidien newspaper.
 
As a reminder, the gross foreign exchange reserves mainly in euro and US dollar stored within the Central Bank of Mauritius amounted at the end of June 2014 to about 121 billion rupees against 117 billion rupees a month earlier.
 
These foreign exchange reserves represent one insurance for Mauritius about 180 days of reserve in terms of imports.
 
109 billion rupees as part of these stored gross reserves were invested in various financial investments.
 
* One euro roughly equivalent to 41 rupees



Fabrice François


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