The exchange rate between the Mauritius Rupee (MUR) and the US Dollar (USD) has seen notable fluctuations throughout 2024. This comprehensive review provides an in-depth look at the MUR to USD exchange rate history for the year, including monthly summaries, key trends, and performance insights. Whether you're a traveler, investor, or business professional, understanding these currency dynamics can help inform financial decisions.
Key Exchange Rate Highlights for 2024
At a glance, the MUR/USD pair showed a downward trend over the course of 2024:
- Highest Rate: 1 MUR = 0.02366 USD on March 12, 2024
- Lowest Rate: 1 MUR = 0.02094 USD on April 15, 2024
- Average Rate: 1 MUR = 0.02166 USD for the year
- Year-to-Date Change: -5.65% (Mauritius Rupee depreciated against the USD)
Monthly Breakdown of MUR to USD Rates
January 2024: Strong Start with Gradual Decline
The year began on a relatively strong note, with the exchange rate opening at 0.02257 USD on January 1. The peak for the month was recorded early at 0.02272 USD on January 2. However, volatility increased toward the end of the month, dropping to a low of 0.02180 USD by January 29.
- Best Rate: 0.02272
- Worst Rate: 0.02180
- Monthly Average: 0.02238
Despite initial strength, investor sentiment shifted due to global risk-off trends and regional economic data.
February 2024: Increased Volatility and Downward Pressure
February saw heightened volatility, with multiple dips below the 0.02150 threshold. The rate hit a monthly low of 0.02135 USD on both February 14 and February 16, likely influenced by lower-than-expected tourism revenue reports.
- Best Rate: 0.02225
- Worst Rate: 0.02135
- Monthly Average: 0.02185
The depreciation reflected broader emerging market currency pressures amid stronger US Dollar demand.
March 2024: Sharp Spike Followed by Rapid Correction
March delivered the year’s most dramatic movement—on March 12, the rate surged to 0.02366 USD, marking the highest value of 2024. This spike may have been driven by short-term capital inflows or central bank intervention. However, the gain was short-lived, with the rate reverting to around 0.02155 by month-end.
- Best Rate: 0.02366
- Worst Rate: 0.02154
- Monthly Average: 0.02182
April 2024: Record Low Amid Economic Concerns
April marked a turning point as the MUR hit its annual low of 0.02094 USD on April 15. This depreciation coincided with inflation concerns and weakening export performance.
- Best Rate: 0.02169
- Worst Rate: 0.02094
- Monthly Average: 0.02153
The sharp drop raised concerns about import costs and foreign investment flows.
May to August 2024: Stabilization and Gradual Recovery
From May onward, the exchange rate stabilized within a narrow range between 0.02119 and 0.02183:
- May Average: 0.02168
- June Average: 0.02145 (hit low of 0.02119)
- July Average: 0.02140
- August Average: 0.02160
A modest recovery in August suggested renewed confidence, possibly tied to improved tourism receipts and stable monetary policy.
September to December 2024: Mixed Signals and Year-End Consolidation
The final quarter showed mixed performance:
- September peaked at 0.02191, the second-highest rate of the year.
- November saw renewed weakness, dropping to 0.02108.
- December closed near its monthly low at 0.02130, reflecting year-end risk aversion.
Despite occasional rallies, the overall trajectory remained bearish compared to early-year levels.
Core Keywords Identified
- Mauritius Rupee to USD
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- USD exchange rate
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These keywords reflect common search queries related to currency performance and are naturally integrated throughout this analysis.
Frequently Asked Questions (FAQs)
What was the average MUR to USD exchange rate in 2024?
The average exchange rate for the year was 1 MUR = 0.02166 USD, reflecting moderate depreciation over time.
When was the highest MUR/USD rate in 2024?
The highest rate occurred on March 12, 2024, when 1 MUR = 0.02366 USD, driven by temporary market dynamics.
What caused the drop in MUR value during April?
The decline to 0.02094 USD on April 15 was likely due to inflationary pressures, reduced foreign reserves, and global USD strength.
Is the Mauritius Rupee expected to strengthen in the coming year?
While forecasts vary, sustained improvement depends on tourism growth, trade balance correction, and monetary stability.
How does MUR depreciation affect travelers?
A weaker rupee means fewer US dollars per rupee exchanged, increasing costs for American tourists visiting Mauritius.
Where can I find reliable historical exchange rate data?
Reputable financial websites and central bank publications offer verified data; real-time tracking tools also provide updated insights.
Final Thoughts
The Mauritius Rupee experienced significant fluctuations against the US Dollar in 2024, ending the year with a net loss in value. While brief rallies—especially in March and September—offered optimism, structural challenges limited sustained gains.
Monitoring future developments in monetary policy, tourism revenue, and global risk appetite will be crucial for predicting MUR performance in upcoming years. For individuals and businesses engaged in cross-border transactions, staying informed through trusted platforms is essential.
Understanding historical trends empowers smarter financial planning—whether you're exchanging cash for travel or managing international investments.