A depreciation of 3.5% of the Mauritian Rupee by the Bank of Mauritius that will cost dear to every consumer on Mauritius Island. This leads to a logical increase of imports costs and freight and each product, may it be imported or produced locally.
The BOM shows the new selling rates on his website. The Euro is at Rs 51.35, the US dollar at Rs 42.99 and the GBP at Rs 59.76 to show the most popular ones.
“The only positive outcome is that exportation will be more profitable; But that’s it !” says Suttyadeo Tengur president of the ‘Association pour la protection de environment et des conformateurs’ (APEC). He also adds to his own observation: “Will exportation really enrich or cover the ‘Mauritius’s debts? Do we even produce enough in quantity or variety to cover the needs of every consumer? Do we even consume only local? Do local producers use only local raw materials?” According to his observations, “such a deliberate measure of the BOM, after a so-called socialist budget, will give way to an increase of the inflation rate and a rise in products and services in all sectors, especially from independent, self-employed people and SMEs who will have no choice of raising their fees. For the employee of public and private sector, his salary has known no raise yet”. It is for the APEC, the most inappropriate time “and the most inconsistent move during such a Mauritian reality and such a pandemic period. A social crisis can be expected. This devaluation could have been reported for a period where the economy of Mauritius would have been more stable”.
