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The Bank of Mauritius gives great consideration to the domestic foreign exchange market. The banking regulator monitors foreign exchange market operations on a daily basis. This is what Harvesh Seegolam made clear. The governor of the Bank of Mauritius was at the Meridien hotel on June 20. He participated in the protocol part of the workshop entitled “Digital Finance in Africa”, organized by the Regional Center of Excellence and the Organization for Economic Cooperation and Development (OECD).

“We will intervene in the foreign exchange market when the need arises,” he responded to a question from the press. The BoM governor stressed that the total figures for “FX inflows” in 2023 compared to 2019 demonstrate that the situation is returning to normal. The level is more or less the same, he said. “The two years from 2020 to 2022 were subject to shocks. This influenced the incoming currency figures,” he continued. However, Harvesh Seegolam assures that the start of this year indicates a gradual return to normal. Gross tourism receipts for the year 2019 amount to Rs 64 billion. The amount stood at Rs 81.3 billion for the financial year 2022-23.

Fabrice Larétif

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