Mauritian RupeeExchange Rates

The Mauritian Rupee (MUR) is the official currency of the Republic of Mauritius, a stunning island nation in the Indian Ocean. Issued by the Bank of Mauritius, the rupee has been the country's legal tender since 1877, replacing the earlier Indian rupee and the colonial-era dollar.

One Mauritian Rupee is subdivided into 100 cents. Banknotes are available in denominations of Rs 25, 50, 100, 200, 500, 1,000 and 2,000, while coins come in 5c, 20c, Rs 1, 5, 10 and 20 values. The currency code under ISO 4217 is MUR and the commonly used symbol is Rs.

Mauritius operates a managed float exchange rate regime, meaning the Bank of Mauritius occasionally intervenes in the foreign exchange market to smooth out excessive volatility while allowing market forces to determine the rupee's value over time.

If you are considering purchasing property in Mauritius, understanding currency exchange rates is essential. Property prices in Mauritius are typically quoted in Mauritian Rupees (MUR), though some luxury developments and IRS/RES/PDS scheme properties may also be listed in US Dollars (USD) or Euros (EUR) for the convenience of international buyers.

Foreign nationals are permitted to purchase property in Mauritius under several government-approved schemes, including the Integrated Resort Scheme (IRS), Real Estate Scheme (RES), Property Development Scheme (PDS), and Smart City Scheme. A minimum investment threshold applies, and the purchase price must generally be paid in a foreign currency through the banking system.

Exchange rate fluctuations can have a significant impact on the effective cost of your investment. A favourable movement of just a few percentage points on a multi-million-rupee transaction can translate into substantial savings. We recommend consulting with a specialist foreign exchange broker who can offer forward contracts to lock in a rate, protecting you from adverse movements between the time you agree a price and the date of completion.

Whether you are visiting Mauritius on holiday or relocating permanently, here are some practical tips for managing your currency exchange:

• Use local banks or licensed bureaux de change

  You will generally receive better rates at banks and licensed money changers than at hotels or the airport. Major banks such as MCB, SBM, and Barclays Mauritius offer competitive exchange services.

• Consider a multi-currency account

  If you are making regular transfers to Mauritius, a multi-currency bank account can help you hold funds in MUR and convert at opportune moments.

• Be aware of transfer fees

  International wire transfers often carry fees from both the sending and receiving banks. Specialist FX providers such as Wise (formerly TransferWise) or OFX may offer lower fees and better rates than traditional banks.

• Plan large transfers strategically

  For property purchases, consider using forward contracts or limit orders through an FX broker. These tools allow you to set a target rate and execute the transfer automatically when the market reaches your desired level.

• Keep receipts for repatriation

  If you sell a property in Mauritius and wish to repatriate the proceeds, you will need to demonstrate that the original funds were brought into the country through the banking system. Retain all exchange receipts and bank statements.

Mauritius has one of the most stable and diversified economies in Africa. Once heavily reliant on sugar exports, the country has successfully transitioned into a services-based economy with strong pillars in financial services, tourism, information technology, and real estate.

The country consistently ranks highly in the Ibrahim Index of African Governance and the World Bank's Ease of Doing Business rankings. This economic stability, combined with favourable tax treaties with numerous countries, has made Mauritius an attractive destination for international investors.

The real estate sector has been a significant driver of foreign direct investment, particularly through the PDS and Smart City schemes. These government-backed programmes offer non-citizens the right to purchase property and, in many cases, obtain a residence permit — making currency planning an integral part of the investment process.