Mauritius To Boost Reserves as Buffer Against Economic Shocks
- Foreign currency reserves declined over past 18 months
- Central bank sets target for 2024, governor Seegolam says
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Mauritius’s central bank plans to purchase foreign currency in the domestic market to boost its reserves and provide a stronger buffer against external shocks.
The target is to reach $8 billion by June next year and then raise its holdings to $10 billion over time, Bank of Mauritius Governor Harvesh Seegolam said, provided there is no other market upheaval.