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AfricaMoney | August 24, 2017

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Bank of Mauritius: Net foreign assets at Rs 138.2 bn for week ended June 26

Bank of Mauritius: Net foreign assets at Rs 138.2 bn for week ended June 26

The Bank of Mauritius’ weekly survey shows estimated net foreign assets for the week ended 26 June 2015 at Rs 138.2 bn, with another notice issued by the BOM during the week alerting members of the public that it is an offence to replicate Mauritian currency in advertisements or on merchandise.

Mauritius’ central bank released on 7 July 2015 its weekly survey for the week ended 26 June 2015, which showed that net foreign assets on the island economy are estimated at Rs 138.2 billion.

These comprised claims on non-residents amounting to Rs 138.3 billion, less liabilities to non-residents amounting to Rs 99 million.

Next were domestic assets, which are disaggregated as Claims on Other Depository Corporations, Net Claims on Central Government, and Claims on Other Sectors.

Claims on Other Depository Corporations are estimated at Rs 2.0 billion while net claims on the central government stood at –Rs 21.4 billion with Rs 3.5 billion for claims on Central Government and deduction of liabilities to Central Government of Rs 25.4 billion. Finally, claims on other sectors amounted to Rs 263 million.

Concerning the monetary base, it comprised Rs 28.0 billion for currency in circulation, Rs 40.5 billion for liabilities to other depository corporations while liabilities to other sectors amounted to Rs 543 million which consecutively increased over three weeks from Rs 93 billion in the first week of June 2015.

In addition, securities other than shares included in broad money amounted to Rs 2.0 billion, deposits excluded from broad money amounted to Rs 58 million, and Rs 1 million for securities other than shares excluded from broad money.

Finally, central bank data also showed that shares and other equity – which is essentially equity capital and reserves compiled by the bank – consisting of equity, general and special reserves – stood at the level of Rs 24.3 billion.

Besides, in another development, the BOM is drawing attention towards wallets bearing the reproduction of Mauritian currency notes that are currently being sold by hawkers at various locations on the island.

The BOM hereby alerts members of the public that “it is an offence under Section 43A of the Bank of Mauritius Act 2004, to use in any size, scale or colour, any photograph of, or any drawing or design resembling, any Mauritius currency issued by the  BOM in any advertisement or on any merchandise which that person manufactures, sells, circulates or otherwise distributes, without the written permission of the Bank.”

It is to be noted that on 5 February 2014, with a view to assist members of the public to better understand the requirements surrounding the reproduction of bank notes and coins, a guideline on reproduction of Mauritius currency notes and coins was issued by the central bank.

Therefore, any person wishing to reproduce any Mauritius currency for advertising or on any merchandise is required to submit a written application to the Bank before taking steps to reproduce such note or coin as non-compliance with central bank regulations is a criminal offence.

 

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