According to May 17 Bloomberg article, the Mauritian rupee weakened to a one-year low and was the worst-performing currency versus the dollar as traders speculated the nation’s exporters were hoarding dollars, exacerbating a retreat from riskier assets on concern the global economic recovery will slow.
And here comes another guess play — what is better to keep the money in MUR, RUR, EUR, GBP, USD…???
My husband, for example is a true believer of USD, always was and will remain probably at least for the up-coming couple of years. He also believes that it is worth while to watch Chinese yuan, Russian ruble, and Brazilian real as if they might form a new currency in the nearest future that might be combined with Middle East currencies to form the new way of the «oil money». Before that happens — dollar and rubles are the two currencies.
When our friends from Russia are planning their trip to Mauritius they always ask us what currency should they take in cash EUR or USD ( RUR is not a option yet for the local exchanges). Now the questions is to local Mauritians — are you diversifying your savings e.g. buying some EUR or some USD or you keep everything in Rs? For the expatriats: if your salary is in EUR and/or USD, are you converting 100% to Rs or keep it all in USD or EUR? What would be your plan for the upcoming months?