Mauritius’ $50 Million Intervention Fails to Halt Rupee’s Slide
- Drop reflects acute foreign-currency shortage, economist says
- Rupee depreciates to 48.605 rupees to US dollar Tuesday
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Mauritius’s rupee slipped to a record low against the dollar, indicating that the central bank’s $50 million sale of the greenback fell short of market demand for the US currency.
The rupee declined to 48.605 rupees to the dollar, the lowest on a closing basis since Bloomberg started tracking the currency.