News at a glance: foreign currency shortage in the market

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Published on 2022-10-14 at 08:46 by Expat.com team
Mauritius is facing a shortage of foreign currency. Also in the news, the 600,000 tourists mark crossed and Air Austral resumes its flights to Mauritius and Rodrigues next month.

Euro shortage on the market

The country is currently facing a foreign currency shortage, with euros being particularly hard to find. Indeed, travelers are having a hard time trying to find change ahead of their travels. Many exchange offices and financial institutions are limiting the amounts of money to be exchanged. For the time being, the best way to find currency exchange is with banks.

How can this shortage be explained? First of all, there is reluctance from currency providers to exchange currency into rupees if not essential because of operational costs. There is also a liquidity problem. Thus, currencies are kept for essential sectors. Not to mention the fact that tourists prefer to make their various payments by credit card. 

Tourism : Above 80,000 tourists in Mauritius in September

Tourist arrivals are still on a downward trend as showed by the latest figures by Statistics Mauritius. Mauritius welcomed 81,087 tourists in September compared to 86,605 tourists in August and 94,084 in July. This trend can be explained by the fact that the sector is currently in the low season.

However, the country crossed the 600,00 travelers mark from January to September this year (638,332). 433,841 tourists arrived from European countries. The number of tourists from African countries amounted to 126,134, while 64,767 tourists arrived from Asian countries. Arrivals from Middle Eastern countries numbered 27,189, 3,119 tourists came from Oceania countries and 10,177 tourists arrived from America from January to September 2022, including 1,314 in September 2022 against 1,458 in August.

Tourist operators are optimistic regarding the last quarter of the year, however. Indeed, the number of tourists visiting Mauritius should increase considerably. Especially since Emirates and Turkish Airlines have increased their frequency of flights to Mauritius since the beginning of this month.

Resumption of direct flights Reunion-Rodrigues

The Reunionese airline Air Austral will resume its direct flights to Rodrigues from November 2. It will take place once a week to begin with, on Tuesdays. Even better, Rodriguans will be able to travel to Paris without passing through Mauritius. Indeed, the company will offer Rodrigues-Reunion-France tickets. Also, Air Austral will resume its flights to Mauritius from November 2, twice a week, on Wednesdays and Saturdays.