Mauritian Rupee Holds Steady: Weekly FX Snapshot, Week Ending 10 July 2026

The Mauritian rupee ended the week on a stable footing, with the FX market remaining orderly and volatility contained across all three major pairs.

Week-on-Week Movement

• USD/MUR: 47.79 (▼ -0.09%) — the rupee edged marginally stronger against the US dollar
• EUR/MUR: 54.68 (▲ +0.51%) — gradual euro appreciation through the week
• GBP/MUR: 64.19 (▲ +0.59%) — sterling recorded the largest weekly gain of the three

Key Domestic Developments

• Gross Official International Reserves rose to USD 11.0 billion in June 2026 — representing 15.5 months of import cover, a strong buffer for currency stability
• The Bank of Mauritius absorbed Rs6.5 billion in excess liquidity, through Rs2.5bn in Government Treasury Bills and Rs4.0bn in 91-Day BoM Bills auctioned on 9 July
• No foreign exchange intervention was conducted during the week — a signal of orderly market conditions
• A Rs3.0 billion 7-Year Government Bond auction has been announced for 15 July 2026

Overall Assessment: Low–Moderate Risk

Market conditions remain stable. Strong reserves and prudent liquidity management continue to underpin MUR resilience.

What to Watch This Week (13–17 July)

• 14 Jul — US CPI (inflation) data: a key indicator for Fed policy expectations and USD direction
• 15 Jul — 7-Year Government Bond Auction (Mauritius): watch demand, subscription levels, and accepted yields
• 15 Jul — US PPI and Fed Beige Book: producer inflation and a snapshot of US economic conditions ahead of the FOMC meeting
• Week-long — BoM announcements on liquidity operations and any FX-related updates
• Week-long — Oil prices and geopolitical developments, for potential inflation and sentiment impact

With reserves at a comfortable level and liquidity well managed, the BoM remains well positioned to maintain currency stability. Market focus this week turns to external inflation trends and investor demand at the upcoming bond auction.