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Mauritius Forex reserves down by Rs29.4 billion in one month

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Mauritius Forex reserves down by Rs29.4 billion in one month

International reserves declined to US $7.013billion as at end July 2022, down from US$7.63billion as at end June 2022.

In Rupee terms, reserves fell by Rs29.4 billion in one month.

The reserves position was sufficient to finance 14.9 months of imports of goods and services, as at end July 2022, compared to 16.3 months a month earlier, Bank of Mauritius data showed on Friday. 

Since the beginning of the year (end December 2021) to end July 2022, the country’s foreign exchange reserves declined by US$1.549billion (Rs56.13billion), representing a drop of 2.7 months of imports.

Gold reserves fell by Rs1billion in one month to reach Rs31.84billion in July.

The Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) dropped by Rs197 million, the Central Bank said. 

On a year-on-year basis, the GOIR rose by Rs5.3 billion.

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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.