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Media Release: The Bank of Mauritius intervenes for an amount of USD 100 Million on the Domestic Foreign Exchange Market

09 November 2022

In line with its close and continuous monitoring of the evolution of the domestic foreign exchange market, the Bank of Mauritius (Bank) sold USD 40 Million on the domestic market on 26 October 2022, and has today intervened for an amount of USD 100 million at the market-determined rate of Rs 43.80 per USD.

Amongst others, this latest intervention aims at further containing inflation in the country.

Since the outbreak of the COVID-19 pandemic, the Bank has intervened on the domestic foreign exchange market for a total of USD 3.5 Billion.

The Bank continues to closely monitor the domestic foreign exchange market and reassures the market and the public at large that it stands ready to intervene on the market as and when required.

The Governor will be meeting with CEOs and Treasurers of banks tomorrow to further analyse the evolution of the FX market.