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The Bank of Mauritius was established in September 1967 as the nation's central bank and has been responsible for the issue of banknotes and coins since that time. [2] The bank issued its first notes in 1967, comprising four denominations: Rs. 5/-, Rs. 10/-, Rs. 25/-, and Rs. 50/-, all undated and featuring a portrait of Queen Elizabeth II on ...
The setting up of the Bank of Mauritius marked the beginning of a new phase in the monetary history of Mauritius, with the monetary system moving forward from the stage of 'Sterling Exchange Standard', under which currency was issued in exchange for sterling at a fixed rate of exchange, to that of a 'managed currency' in which the discretionary ...
De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, and Monetary Policy Frameworks [2]; Exchange rate arrangement (Number of countries) Exchange rate anchor
It is licensed as a commercial bank by the Bank of Mauritius, the country's central bank and the nation's banking regulator. MauBank is the third largest bank in Mauritius. [1] [2] It offers a full range of financial services to private and corporate clients, wealthy individuals, companies, public and financial institutions.
The dollar was the currency of Mauritius until 1877. Initially, it was made up of Spanish dollars , with paper money and new coins being issued in the 1820s (see Anchor coinage ). The dollar was initially pegged at a value of 2 Indian rupees , then at 4 shillings sterling .
Colour key and notes Indicates that a given currency is pegged to another currency (details) Italics indicates a state or territory with a low level of international recognition State or territory Currency Symbol [D] or Abbrev. ISO code Fractional unit Number to basic Abkhazia Abkhazian apsar [E] аҧ (none) (none) (none) Russian ruble ₽ RUB Kopeck 100 Afghanistan Afghan afghani ؋ AFN ...
The Reserve Bank of India introduced plastic/polymer currency note of ₹ 10 on a field trial basis in five cities in India. [68] Mauritius: 22 August 2013 The Bank of Mauritius issued new 25-, 50-, and 500-rupee polymer banknotes which will circulate in parallel with the existing paper notes of the same denominations. The new polymer notes ...
Mauritius approached the IMF and the World Bank for assistance. [20] In exchange for loans and credits to help pay for imports, the government agreed to institute certain measures, including cutting food subsidies, devaluing the currency, and limiting government wage increases. [20]