MAURITIUS · ECONOMY
Key Facts
- —What is happening The Bank of Mauritius sold US$15 million of foreign currency on Thursday 15 October 2026 at Rs47.30 a dollar, and a second US$15 million on Thursday 22 October at Rs47, which a Bank notice has not yet confirmed.
- —Why it matters The central bank is selling dollars on the domestic market, in an island economy that depends heavily on imported food, fuel and raw materials.
- —The numbers Sales since January are put at about US$125 million, including US$95 million to September; the rupee stood at Rs47.70 to the dollar on 22 October, firmer than Rs48.36 on 17 September.
- —Who is who The Bank of Mauritius is the island’s central bank, led by Governor Priscilla Muthoora Thakoor; its Monetary Policy Committee holds the Key Rate at 4.75% and meets next on Wednesday 11 November.
- —What to watch Watch for the Bank’s notice on the 22 October sale, any further dollar sales, and the Wednesday 11 November rate meeting, which reviews inflation and the currency market.
- —What it means for you Americans who travel to Mauritius or hold dollar accounts in its offshore sector see a rupee near Rs47 to Rs48 per dollar, and a central bank that has sold dollars in recent weeks.
The Bank of Mauritius is selling dollars to hold the rupee steady. A Mauritian news site puts the total since January at about US$125 million.
The Bank of Mauritius, the central bank, sold US$15.0 million on Thursday 15 October at Rs47.30 a dollar, its public notice says. Defimedia, a Mauritian news site, reports a second sale of US$15 million on 22 October at Rs47.
Defimedia also says sales from January to September came to US$95 million. Adding the two October sales gives the US$125 million in its headline, a total that no Bank notice confirms.
What the Bank of Mauritius Sold in October
The Bank published a public notice on its website on Thursday 15 October headed Intervention on the Domestic Foreign Exchange Market. It says the Bank sold a total of US$15.0 million that day.
At Rs47.30 a dollar, that sale equals about Rs709.5 million (about US$15 million). The notice gives no reason for the sale and names no counterparty.
Defimedia, in an article published at 14:44 on Thursday 22 October, says the second October sale was also US$15 million, at Rs47. That equals about Rs705 million (about US$15 million), and the article does not name the official source of its figures.
The Bank’s home page showed no notice dated 22 October when the newsroom checked it. This article therefore treats the 22 October sale and the January to September total of US$95 million as Defimedia’s figures only.
How the Rupee Has Moved
The Bank’s website shows the rupee firming between 17 September and 22 October, with the dollar falling from Rs48.36 to Rs47.70. On 22 October the Bank’s indicative rates for notes were Rs46.13 to buy and Rs47.70 to sell per dollar.
A day earlier, on Wednesday 21 October, the Bank’s indicative selling rate was Rs48.00 to the dollar. The newsroom cannot say how much of the firmer rupee came from the Bank’s sales.
Defimedia cites the Actuarix Investment Dashboard, which says the dollar rose about 1.4% against the rupee in September. It adds that the dollar, the euro and the pound all gained on the rupee over the third quarter.
Defimedia and the October notice give no reason for the 2026 sales. On Monday 9 March the Bank sold US$20 million at Rs46.15 to curb the dollar’s rise, L’Express reported.
L’Express said the dollar had risen about 3.4% against the rupee in a week, with Middle East tension behind the move. A stronger dollar raises the cost of imported food, raw materials and energy, which can lift consumer prices.
The Bank’s August statement lists Middle East tension, shipping route risks, volatile energy prices and high freight costs as inflation risks. It projects headline inflation of about 5% for 2026.
After the Wednesday 12 August meeting, Governor Thakoor pointed to the resilience of the foreign exchange market, L’Express reported. The Key Rate, its main policy rate, stayed at 4.75%.
Reserves stood at US$9.7 billion at the end of July. The current account deficit narrowed to 0.6% of GDP in the first quarter, from 3.7%.
How Big Is US$125 Million
By the newsroom’s own arithmetic, US$125 million is about 1.3% of the US$9.7 billion in reserves reported for the end of July. Reserves for September and October were not found, so the true share may differ.
The two October sales total US$30 million, or about Rs1.41 billion (about US$30 million) at the two sale rates. That is two sales in eight days, against about US$10.6 million a month from January to September.
What It Means for US Readers
The Bank also published a Guideline on Cash Reserve Requirement on 15 October, covered in an earlier Rio Times report. The newsroom did not verify its terms at the Bank, so this article does not rely on them.
US travellers saw indicative note rates of Rs46.13 to Rs47.70 per dollar on 22 October, though banks set their own rates. US firms selling to Mauritian importers are paid in dollars, so a steadier rupee helps those buyers.
US investors with Mauritian holding companies or bonds can read the sales as a sign that the Bank will defend the rupee. The sales are small against reserves, and the sources seen report no dollar shortage.
What Is Not Known
The newsroom could not open a Bank notice for the 22 October sale or the full 2026 list. The US$95 million to September therefore rests on Defimedia.
Defimedia does not name its source or give a reason for the sales. No second Mauritian outlet reporting the 22 October sale was found.
It is not known whether more sales are planned, and no statement by the Governor on the October sales was found. No official statement ties the sales to a target rupee level.
What Comes Next
The Bank’s Monetary Policy Committee next meets on Wednesday 11 November, according to the Bank’s website. The Key Rate stands at 4.75%.
The August statement shows the Committee reviews open market operations and the foreign exchange market at each meeting. Any further dollar sales appear as public notices on the Bank’s website.
Frequently Asked Questions
What did the Bank of Mauritius do on 22 October?
Defimedia reports that it sold US$15 million on the domestic market at Rs47 to the dollar. The Bank had not yet posted a notice for that sale when the newsroom checked.
How much has the Bank sold in 2026?
Defimedia puts the total at about US$125 million from January to 22 October, including US$95 million to September. Only the 15 October sale of US$15.0 million is confirmed by a Bank notice.
What is the rupee worth against the dollar?
On 22 October the Bank’s indicative rates for notes were Rs46.13 to buy and Rs47.70 to sell per US dollar. The dollar was at Rs48.36 on 17 September.
Why does a central bank sell dollars?
Selling dollars adds supply to the market and can slow a rise in the dollar against the local currency. In March the Bank sold dollars to curb the dollar’s climb, as L’Express reported.
Why does this matter to Americans?
Visitors, exporters and investors with Mauritian links deal in dollars and rupees, so the exchange rate affects their costs. The Bank also published a cash reserve guideline on 15 October.
Sources: Bank of Mauritius, public notice on intervention, 15 October 2026; Bank of Mauritius, intervention notice page; Bank of Mauritius, Key Rate media release and indicative rates; Defimedia, 22 October 2026; L’Express via AllAfrica, 10 March 2026; L’Express via AllAfrica, 14 August 2026; The Rio Times, earlier report, background only (all accessed 22 October 2026).
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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