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Central Bank intervenes for 3rd time after historic USD200million move

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Central Bank intervenes for 3rd time after historic USD200million move

The Bank of Mauritius has intervened again on the domestic foreign exchange market and sold a total amount of USD20 million at the rate of Rs43.00/USD.

This is the third intervention since it sold USD200 million, equivalent to Rs 8.6 billion on the market on April 13.

The intervention had come after the Leader of the Opposition Xavier Duval expressed serious concerns on the country’s reserves and availability of forex on the island – leading to the depreciation of the Rupee.

“This represents the largest ever single intervention the Bank has made on the market so far in its history,” BOM had said in a communique issued then.

Since then, it has intervened on April 25 and sold USD25 million. It later sold USD15 million on 22 April.

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The information and opinions expressed in our published works are those of authors/sources believed to be reliable. NewsMoris makes no representations as to accuracy, completeness, suitability, or validity of any information expressed.