The Rupee devaluates
It has been a rough ride for the Mauritian Rupee since the beginning of the year: losing nearly 15% against both the Euro and the British Pound. It loses only 5% against the “weak” US Dollar. Sithanen, the Finance Minister, is calling those having foreign currencies to convert them to Rupees. There is no sign that the Rupee will be able to claim back the lost value in the future. It is understandable that they do not wish to convert the foreign currencies. The Mauritian economy is at a cross-road. Major reforms being undertaken by Sithanen will either make or break the country. Sithanen should be selling more “dreams” to the people if he wants to succeed.