US Dollar’s 46% Surge Hits Hard the Mauritian Rupee

A recent economic report by AXYS, a Mauritius-based portfolio management company, revealed that the US dollar has appreciated against the Mauritian rupee over the past 10 years, resulting in a total increase of almost 46% since 2014.

The report, titled “Mauritius Economic Deep Dive 2024,” published on June 14, highlighted the significant impact this fluctuation has had on the cost of living in Mauritius.

The devaluation of the rupee has had a substantial effect on the economy, increasing the cost of living and influencing investment decisions.

According to Navnit Seeburrun, an investment analyst at AXYS, “The depreciation of the rupee has had a significant impact on our economy, increasing the cost of living and influencing investment decisions.”

The report provided an in-depth analysis of Mauritius’ economic developments and follows up on the AXYS Investment Outlook 2024 report published in January.

The report examined the evolution and diversification of the economy over the decades, highlighting current and future challenges. It also addressed critical issues such as food security and labor shortages.

The appreciation of the US dollar against the rupee has had far-reaching consequences for households and various economic sectors.

As a result, households have had to absorb higher costs, leading to increased expenses. This development has also affected investment decisions, making it more challenging for businesses to operate profitably.

The report provided valuable insights into the Mauritian economy, offering stakeholders a comprehensive understanding of the country’s economic landscape.

The appreciation of the US dollar against the rupee has been a significant factor in shaping Mauritius’ economic landscape over the past decade. As the country is continuing to evolve and diversify its economy, it is crucial to address current challenges and look towards a brighter future.

Source: Defi Media