Mauritius sees gross official international reserves dip to Rs 119.46 bn in Nov
According to the data released by the Central Bank, the value of the gold reserves increased to Rs 9.46 billion in November 2014, compared to Rs 8.17 billion in October, and Rs 4.76 billion as at end-November 2013. (Image: History)
Gross international reserves hit Rs 119.46 billion in November 2014, decreasing by Rs 1.87 billion over the previous month, according to data released last Friday by the central bank of Mauritius.
The gross international reserves declined from Rs 121.33 billion in October to Rs 119.46 billion at the end of November. The year-on-year increase is estimated at Rs 18.67 billion, against Rs 100.79 billion in November 2013.
The level of the reserves, as calculated in US dollar, is estimated at USD 3.80 billion in November 2014 against USD 3.87 billion at the end of October 2014.
According to the data released by the Central Bank, the value of the gold reserves increased to Rs 9.46 billion in November 2014, compared to Rs 8.17 billion in October, and Rs 4.76 billion as at end-November 2013.
The central bank also published its intervention by the Bank during the week 01 December to 05 December 2014 in which it reported that no intervention was performed on December 1, 2014.
However, Bank of Mauritius (BoM) purchased 1.7 million of USD at the rate of Rs 31.52 on December 2, 2014 resulting to a total spending of Rs 53.58 million.
On December 3, 2014, BoM spent Rs 3.16 million on purchasing 100,000 USD at the rate of Rs 31.57.
Finally, the central bank announced in its intervention on the domestic foreign exchange market as at December 5, 2014 that the Bank intervened on the domestic foreign exchange market at the bid rate of Rs31.60//USD.