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AfricaMoney | June 29, 2017

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Net foreign assets at Rs 136.1 bn for week to 19June15: Bank of Mauritius

Net foreign assets at Rs 136.1 bn for week to 19June15: Bank of Mauritius

Mauritius’ estimated net foreign assets for the week ended 19 June 2015 stood at Rs 136.1 billion, noted the central bank in its weekly survey, while the monetary base comprised Rs 27.3 billion for currency in circulation and Rs 41.2 billion for liabilities to other depository corporations, with liabilities to other sectors at Rs 117 million.

Mauritius’ central bank released on 30 June 2015 its survey for the week ending 19 June 2015, which showed that net foreign assets are estimated at Rs 136.1 billion.

These comprised claims on non-residents amounting to Rs 136.2 billion, less liabilities to non-residents amounting to Rs 98 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 20.6 billion, with Rs 3.5 billion for claims on Central Government and deduction of liabilities to Central Government of Rs 24.1 billion. Finally, claims on other sectors amounted to Rs 265 million.

Concerning the monetary base, it comprised Rs 27.4 billion for currency in circulation, Rs 41.2 billion for liabilities to other depository corporations while liabilities to other sectors amounted to Rs 117 million.

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 24.9 billion.

In another development, the bank published a document pertaining to the principal interest rates in Mauritius. It showed that the Key Repo Rate, which is the policy rate used by the Bank of Mauritius to signal its monetary policy stance, stood at a constant 4.65% for the past 2 years, after being reduced from a rate of 4.90% in May 2013.

As for the prime lending rate of banks, it stands between 6.25-8.50% while the savings deposits rate of banks ranges from 2.00-4.00%.

Moreover, on monetary development in Mauritius, the annual rate of growth of Broad Money Liabilities (BML) stood unchanged at 10.0% where BML growth stemmed from broad-based increases of all of its components.

Between end-April and end-May 2015, BML rose by Rs 1,851 million, or by 0.5%, to Rs 411,918 million, reflecting an expansion in transferable and savings deposits that more than offset contraction in foreign currency deposits.

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