Mauritian Rupee

About The Mauritian Rupee: The Legal Tender of Mauritius

Quick Facts About the Mauritian Rupee Notes

Country of Origin	Mauritius
Symbol	₨
Currency Code	MUR
Nick Names
Minor units	Sentimo
Denominations (Banknotes)	₨ 25, ₨ 50, ₨ 100, ₨ 200, ₨ 500, ₨ 1000, and ₨ 2000
Motto	Stella Clavisque Maris Indici
Identification Feature	On the left side of each denomination is a hand-engraved picture of a noteworthy person from the island of Mauritius.
Issuing Bank	Bank of Mauritius
In Circulation Since	1967
INR Exchange Rate	2.114 🔄

The rupee is the official currency used in Mauritius, which is a small island nation located in the Indian Ocean to the southeast of the coast of Africa. One hundred Mauritian cents are denoted as one Mauritian Rupee. The rupee can be represented by the sign Rs., whereas the currency's code is MUR. The Bank of Mauritius is responsible for issuing the Mauritian Rupee.

The current Mauritian Rupee rate is INR (2.114 🔄) . You can keep an eye on the live Mauritian Rupee value.

History of the Mauritian Rupee

Since 1994, the Bank of Mauritius has used a method known as a "filthy float" to determine the value of one MUR in relation to the values of other currencies. In times of market unpredictability, the Bank of Mauritius will step into the foreign currency markets to protect the country's reserves by regulating the exchange rate and maintaining the value of the mauritian dollar. This is done by intervening in the markets themselves.

In 1820, the United Kingdom produced the Mauritius dollar in response to a request from the colony. Despite being tied to the value of the Spanish dollar, the Mauritius dollar circulated in parallel with the Indian rupee (INR) and the British pound. In the middle of the 1800s, when there was a flood of Indian immigrants to Mauritius, a lot of Indian rupees flowed into the country. This is because the number of Indian immigrants was at an all-time high. As a direct result of this migration, the Indian rupee, the Mauritius dollar, and the British pound (GBP) were all removed from circulation and replaced with the Mauritian Rupee in the year 1877.

In 1934, the government of India decided to peg the value of the Indian rupee to the value of the British pound by devaluing the rupee and setting the exchange rate at 13.3 MUR to 1 GBP. Late in 1967, the Board of Commissioners of Currency was supplanted by the Bank of Mauritius as part of preparations for the country's eventual independence from Britain. In 1972, the government decided to ditch its pound sterling peg in favour of an exchange rate that tracked in a creeping band behind the value of the United States dollar (USD). 1979 was a difficult year for the economy of Mauritius as a result of a decline in global sugar prices and an increase in oil prices. In October of that year, an agreement was reached to devalue the rupee by 22.9%, which was a requirement for receiving the loan from the IMF.

In 1982, the central bank decided to re-peg the currency to a basket of currencies that were together intended to reflect the country's most significant trading partners.

As a direct result of the greater liberalisation of fiscal policy, the central bank decided to adopt the managed float method that it has been using since 1994.

Countries Accepting the Mauritian Rupee

Amount in the Mauritian Rupee You Should Carry for Your Trip

When creating a budget for travelling in Mauritius, there are a lot of moving aspects to take into consideration, such as where you want to go, how you want to stay, and what you want to buy. Because of this, it can be difficult to develop a budget that is both reasonable and adaptable to changing circumstances. A visitor on a limited budget might easily spend more than Rs 3207 in one day's worth of expenses in Mauritius. For costly wants like private transportation, gourmet dinners, and stays at five-star hotels, it is possible that a daily budget of more than Rs 6414 will be required to meet the costs. It is possible that you will spend up to Rs 13363 on a vacation for two people to a popular location.

The cost of a single night's stay in a hotel room in Mauritius will normally range anywhere from Rs 1,122 per person per day to Rs 2,672 per person per day. Your daily transportation costs could run anywhere from Rs 267 to Rs 801 if you walk, take the bus, or hire a cab, depending on whatever mode of transportation you choose.