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The Bank of Mauritius intervened in the foreign exchange market on Monday, July 8. It sold $50 million at a rate of Rs 46.76 per dollar. “The Central Bank continues to closely monitor the foreign exchange market and assures the market and the general public that it is ready to intervene again if necessary,” the BoM said in a press release.

It is worth noting that for several months, traders and individuals have been facing a shortage of foreign currency. In addition to this, forex transactions are mainly carried out on the “forward rate”, which makes foreign currency more expensive.

Note that the dollar is currently trading at Rs 47.20, the euro at Rs 51.57 and the pound sterling at Rs 60.89.

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