Country’s reserves hit all-time high of Rs 173 billion

Gross international reserves of Mauritius have reached Rs 173 billion as at end-October 2016, according to figures released by the Bank of Mauritius. The country has added on Rs 23.3 billion worth of reserves over the previous twelve months. In October 2015, the figures stood at Rs 149.7 billion.

This rise in the reserve figures is on the back of higher gold reserves increased by over Rs 6.5 billion over the one-year period, from Rs 11.8 billion to reach Rs 18.3 billion. Reserves labelled by the central bank as “other” also increased over the past twelve months, from Rs 131.3 billion to Rs 148.4 billion from October 2015 to October 2016.

The country’s position in the IMF increased by around Rs 0.4 billion while its access to Special Drawing Rights (SDRs) dropped by an equal amount. The Mauritian rupee’s exchange rate against the US dollar remained at more or less the same level at the time of measurement. The USD was trading at Rs 36.50 in October last year as compared to Rs 36.60 in October 2016.