The Mauritius Rupee (MUR) is the official currency of the Republic of Mauritius, a small island nation off the southeast coast of Africa. It’s a relatively stable currency, often used as a safe haven currency due to the country’s strong economic performance.

History the Mauritius Rupee (MUR)

The Mauritius Rupee (MUR) is issued by Bank of Mauritius. It’s a fully convertible currency, meaning it can be freely exchanged for other currencies. This convertibility has significantly contributed to Mauritius’s position as a major financial hub in the Indian Ocean region. is one of several currencies that carry the rupee designation. The the large number of Indian immigrants into Mauritius in the mid-1800s caused a wide circulation of Indian rupees in the country, then to control the economy of Mauritius, Britain introduced the Mauritius dollar at par with the Spanish dollar. Afterward, the establishment of Mauritius replaced the indian and british pound as legal tender and as the time 

1 British pound = 10.25 Mauritius. 

In late 1967, ahead of the country’s independence The Bank of Mauritius was created thereby replacing the Board of Commissioners of Currency and the recent peg to British pounds was in 1972 was cancelled.  A fall in global sugar prices and a rise in oil prices of the 1979 put pressure on Mauritius’ economy, and 22.9% devaluation of the rupee in Sept 1981 made the MAU depreciate by 16.7% and this was as result of part of the agreement to receive aid from the International Monetary Fund (IMF), 

Economy of Mauritius

Mauritius has a robust economy, primarily driven by tourism, financial services, and manufacturing.  According to the World Bank data, Mauritius has an upper-middle-income diversified economy consisting of tourism, textile, and sugar. As of 2020, the nation had a (14.9%) annual gross domestic product (GDP) growth with a yearly inflation deflator of 1.236%. The country has consistently maintained economic growth and stability, making it an attractive destination for foreign investment. The country’s economic health directly influences the strength of the Mauritian Rupee.

Denominations of Mauritanian Ouguiyas (MRU)

Mauritius Rupee (MUR) is available in various denominations, including coins and banknotes they include:

• Coins: small denominations like 1, 5, 10, and 25 Ouguiyas.
• Banknotes: Larger denominations such as 50, 100, 200, 500, 1000, and 2000 Ouguiyas.

Conclusion

Mauritius Rupee (MUR) is a stable and convertible currency that reflects the strength of the Mauritian economy. Mauritius has a robust economy, primarily driven by tourism, financial services, and manufacturing.  According to the World Bank data, Mauritius has an upper-middle-income diversified economy consisting of tourism, textile, and sugar. As of 2020, the nation had a (14.9%) annual gross domestic product (GDP) growth with a yearly inflation deflator of 1.236%. The country has consistently maintained economic growth and stability, making it an attractive destination for foreign investment. The Mauritius Rupee’s strength is directly linked to the country’s economic health. While the Mauritanian Ouguiya is a different currency, it’s important to distinguish between the two to avoid confusion.