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Finance: Central Bank of Mauritius sells $200 million to commercial banks

14/04/2022
Source : ORISHAS FINANCE
Categories: Sectors

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The Mauritian rupee has weakened 1.5 percent against the dollar since the start of the year, and more than 5 percent in April alone. The rupee was trading at 42.80/43.10 on Wednesday, according to data. The central bank sold dollars to banks at 42.95 rupees per dollar, down from 43.15 per dollar in its previous intervention on April 8.

The economic conditions that led to a depreciation of the rupee since the start of the pandemic have largely faded. As the economic outlook improves, the bank expects supply and demand conditions in the foreign exchange market to improve further, reversing the depreciation trend, it says.

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