Mauritius sees gross official international reserves dip to Rs 122.50 bn in Sept
According to the data released by the Central Bank, the value of the gold reserve increased to Rs 7.23 billion in September 2014, compared to Rs 5.0 billion in August, and Rs 5.14 billion in the year-ago period, as at end-September 2013. (Image: Stiener Show)
The Bank of Mauritius published a statement indicating that the Gross Official International Reserves of the country dipped to Rs 122.50 billion from Rs 125.02 billion in August 2014.
Thus, the reserves went down marginally by 2.02%, or Rs 2.53 billion, to reach Rs 122.50 billion at the end of last month.
The level of the reserves, as calculated in US dollar, is estimated at USD 3.91 billion in September 2014 against USD 4.05 billion at the end of August 2014.
According to the data released by the Central Bank, the value of the gold reserve increased to Rs 7.23 billion in September 2014, compared to Rs 5.0 billion in August, and Rs 5.14 billion in the year-ago period, as at end-September 2013.
The central bank also reported on the Mauritius Exchange Rate Index (MERI), which is a summary measure of the rupee’s movements against the currencies of its important trading partners.
MERI1 and MERI2 are the two indices used, where an increase in the index indicates a depreciation of the rupee, with both indices displaying an increase from August to September 2014.
MERI1, which is based on the currency distribution of merchandise trade, continues to increase from 94.51 points in August 2014 to 94.95 points in September 2014.
Based on the currency distribution of merchandise trade and tourism earnings, MERI2 also continues with an upward trend to reach 94.54 points in September 2014 against 94.19 points in August 2014.
Besides, the central bank survey as on September 26, 2014 was released yesterday, showing that net foreign assets are estimated at Rs 119.96 billion while the net claims on central government stood at Rs 22.85 billion.
Additionally, the monetary base is estimated at Rs 64.74 billion – which mainly comprises Rs 26.30 billion currency in circulation and Rs 38.32 billion liabilities to other depository corporations.
Finally, central bank data showed that shares and other equity, which is essentially equity capital and reserve complied by the bank consisting of equity, general and special reserves, stood at the level of Rs 20.41 billion.