Mauritius Rupee depreciates by almost 20% against USD

The exchange rate for 1,000 Mauritian Rupees fell from USD 28.23 in January 2016 to USD 22.64 in March 2022.

According to WorldData website, in these 74 months, it fell by 19.8%.

It cited the International Monetary Fund as stating that Rs286.88 billion were held for currency hedging.This corresponds to a ratio of 1:2.5.

In other words: Rs10 of Rs25 are deposited with a counter-value, which is internationally already above average. 

Approximately Rs29.75 billion (10.4%) of the currency reserves exist in gold reserves, the remainder consists of foreign currencies, special drawing rights in the International Monetary Fund and other reserve positions.