Mauritius Central Bank Injects $125 Million to Support the Forex Market in 2026

Published Date: 23 October 2026
Updated Date: 23 October 2026

The Bank of Mauritius has injected approximately US$125 million into the domestic foreign exchange market through interventions conducted between January and 22 October 2026. The latest reported operation involved the sale of US$15 million on 22 October at a rate of Rs47 per US dollar.

The intervention came one week after another US$15 million sale on 15 October, when the central bank supplied foreign currency at Rs47.30 per dollar. These operations form part of the Bank’s efforts to improve the availability of foreign exchange and support orderly market conditions.

According to reporting by Defi Media, total interventions between January and September 2026 had reached US$95 million before the two October transactions brought the reported cumulative figure to US$125 million.

Bank of Mauritius Steps Up Foreign Exchange Interventions

The Bank of Mauritius uses foreign exchange interventions to influence the availability of foreign currency in the domestic market when conditions warrant action.

In a foreign exchange sale, the central bank supplies foreign currency, such as US dollars, to the market. This can help meet demand from banks and other market participants, including businesses that require foreign currency to pay for imports.

The October transactions followed several interventions earlier in 2026. According to the Bank’s published intervention records, the central bank had also conducted operations on 14 January, 9 March, 16 April, 12 June, 26 June, 3 September and 24 September.

The latest reported sales indicate that the central bank continued to monitor the market and provide additional foreign currency as needed.

US$125 Million in Interventions Since January

The reported cumulative amount of US$125 million includes US$95 million in interventions during the first nine months of 2026 and two further US$15 million sales in October.

Period	Reported intervention
January–September 2026	US$95 million
15 October 2026	US$15 million
22 October 2026	US$15 million
Reported total	US$125 million

The total reflects the reported value of foreign currency sold by the Bank during these operations. It should not be interpreted as a direct measure of the total foreign exchange reserves available to Mauritius.

The Bank’s official notices confirm individual interventions, while the cumulative figure was reported by local media.

Why Foreign Currency Availability Matters

Mauritius relies on imports for a substantial share of its fuel, food, machinery, raw materials and other goods. Businesses need foreign currency to settle many of these transactions, while tourism and other internationally oriented activities generate foreign exchange inflows.

When demand for foreign currency exceeds the amount available in the domestic market, importers and other businesses can face difficulties obtaining the currencies they need.

Foreign exchange shortages can also create uncertainty for businesses planning payments, managing costs and arranging international transactions. The availability and price of foreign currency therefore remain important considerations for the wider economy.

Pressure on the Mauritian Rupee

The rupee’s exchange rate is influenced by several factors, including demand for imports, foreign currency earnings from tourism, international investment flows and movements in global currency markets.

The Bank’s intervention on 22 October took place at Rs47 per US dollar, while the 15 October sale was conducted at Rs47.30 per dollar.

These transaction rates should not be treated as a complete measure of the rupee’s market performance. Exchange rates can vary according to the date, transaction type and market participant. The effect of an intervention also depends on wider supply-and-demand conditions.

Selling US dollars can increase the amount of foreign currency available in the domestic market, but it does not guarantee that the rupee will appreciate or remain stable over the longer term.

Government Measures to Improve Forex Supply

The issue of foreign currency availability has also been discussed at the national policy level.

On 1 September 2026, Prime Minister Navin Ramgoolam outlined measures intended to strengthen the foreign exchange market. He said that foreign exchange purchases by banks and dealers had reached US$7.4 billion in 2025, while sales totalled US$7.8 billion.

For the period from January to 26 August 2026, purchases amounted to US$5.16 billion and sales reached US$5.06 billion, according to the Prime Minister’s statement.

The measures described by the Government included regulatory changes relating to foreign exchange transactions and initiatives intended to encourage foreign currency inflows. The authorities also identified strong import demand and structural imbalances as continuing challenges.

Impact on Importers and Businesses

The availability of foreign currency has direct implications for Mauritian companies that depend on imported goods and services.

Importers need foreign currency to pay international suppliers. If access becomes difficult or unpredictable, businesses may face delays in settling invoices, planning stock purchases or managing working capital.

A more orderly foreign exchange market can help businesses plan transactions with greater certainty. However, the final cost of imports also depends on international prices, freight charges, exchange rates and other expenses.

Tourism operators, financial institutions and businesses receiving overseas payments also monitor exchange-rate movements because they can influence revenue, costs and financial planning.

What to Watch Next

Future foreign exchange interventions, the rupee’s movement against major currencies and the balance between domestic foreign currency supply and demand will remain important indicators.

Market participants will also be watching for further announcements from the Bank of Mauritius and the Government regarding measures to improve market functioning.

The US$125 million reported total illustrates the scale of the central bank’s interventions through 22 October 2026. Whether these operations lead to a sustained improvement in foreign currency availability will depend on broader economic conditions and the continued flow of foreign exchange into and out of Mauritius.

Final Thought

The Bank of Mauritius’s reported US$125 million in foreign exchange interventions between January and 22 October 2026 highlights the continuing importance of currency-market management in Mauritius. The October sales added to the central bank’s earlier operations as authorities addressed foreign currency supply pressures. While interventions can help improve short-term liquidity and reduce excessive volatility, lasting stability also depends on sustainable foreign exchange inflows, import demand and wider economic conditions.