The Bank Of Mauritius (French: Banque De Maurice), Established In September 1967, Is The Central Bank Of Mauritius. Its System Is Modeled On That Of The Bank Of England, And It Was Initially Assisted By Senior Officials Of The Bank Of England. One Of The Functions Of The Bank Of Mauritius Was To Issue Banknotes In The Country.
History
In The 19th Century, There Were Three Banks (all Of Which Were Closed) Operating Under The Name Bank Of Mauritius. The First Was Established In 1813 And Collapsed In 1825. The Second Was A British-owned Overseas Bank With Two Directors, One Living In London And The Other In Port Louis, Mauritius. The Bank Started Operations In 1832 To Provide Services To Plantation Owners. It Was The Only Bank In The Area Until 1838 When The Commercial Bank Of Mauritius Was Established. In 1847, The London Financial Crisis Caused The Sugar Market To Collapse, And Both Banks Suffered Heavy Losses. In 1848, The Bank Of Mauritius Collapsed, And The Commercial Bank Of Mauritius Has Been In Operation To This Day. In 1894, The Third Bank Of Mauritius Was Established, Acquiring The Local Business Of Dongfan Redeemer Bank. It Was Acquired By Favorite Bank In 1911, And Favorite Bank Was Also Acquired By HSBC In 1959, So HSBC Advertised Itself As The Oldest Foreign Bank In The Local Area.
Currency Committee
Before The Establishment Of The Bank Of Mauritius As The Central Bank, The Role Of Issuing Banknotes Was The Responsibility Of The Currency Committee. The Establishment Of The Bank Of Mauritius Opened A New Page In The Monetary History Of Mauritius, From The Previous Sterling Conversion Standard, That Is, The Mauritian Rupee Is Exchanged For Sterling At A Specific Exchange Rate, To The Exchange Rate System That The Monetary Authority Has The Power To Intervene.
Successive Governors
- Aunauth Beejadhur (July 1967 - December 1972)
- Goorpersad Bunwaree (January 1973 - May 1982)
- Indurduth Ramphul (June 1982 - March 1996)
- Mitrajeet Dhaneswar Maraye (April 1996 - November 1998)
- Rameswurlall Basant Roi (November 1998 - December 2006)
- Yandraduth Googoolye (January 2007 - February 2007)
- Rundheersing Bheenick (February 2007 - February 2010)
- Yandraduth Googoolye (February 2010 - May 2010)
- Rundheersing Bheenick (May 2010 - December 2014)
- Rameswurlall Basant Roi (December 2014 - January 2018)
- Yandraduth Googoolye (January 2018 - February 2020)
- Harvesh Kumar Seegolam (March 2020 - Now
Commemorative Coin Sale Online
On March 12, 2008, The Bank Of Mauritius Launched An Online Global Offer For Sale Commemorative Coins And Dodo Gold Coins.
