Mauritius Foreign Reserves Surge by Rs 71 Billion in Single Year

Mauritius’s gross official international reserves have climbed to Rs 463.1 billion as of the end of April 2026, marking a significant annual increase of approximately Rs 71 billion.

Data released by the Bank of Mauritius confirms that the country’s foreign currency stockpile is now equivalent to $9.81 billion.

The surge comes as the central bank implements a series of reporting overhauls designed to provide a more transparent view of the nation’s economic resilience.

Enhanced Statistical Framework

In a bid to refine the presentation of balance of payments statistics, the Bank of Mauritius has retroactively integrated the import and export of services from Global Business Companies (GBCs) into its data, dating back to 2018.

This adjustment, which has been in effect since September 2025, aims to align the reserves data more closely with modern commercial activities.

New Import Cover Indicators

Under this revised context, the central bank has introduced a dual-indicator system to measure how effectively these reserves cover national imports:

• Inclusive Indicator: Incorporates GBC service imports to ensure total consistency with balance of payment statistics.
• Exclusive Indicator: Omits GBC data to provide a direct reflection of the foreign currency financing requirements of the domestic economy.

Focus on Transparency

The Bank of Mauritius stated that this “double approach” is intended to improve transparency across the financial sector.

By separating these figures, the institution aims to make it easier for analysts and policymakers to evaluate the country’s external resilience against global economic shifts.

Evolution of the Country’s Reserves

Monthly Data Table

Reserves in Terms of Months of Imports

Based on imports of goods and services for the 2025 calendar year, the Gross Official International Reserves (GOIR) at the end of April 2026 represented:

• 13.6 months of imports (excluding GBC service imports).
• 10 months of imports (including GBC service imports).

Monthly Import Cover

Source: Defi Media