Currency in Mauritius: MUR Send & Spend FX Guide
Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in Mauritius with the Mauritian rupee.
What's in this Mauritius currency guide?
What currency is used in Mauritius?
The official currency of Mauritius (country code: MU) is the Mauritian rupee, with symbol ₨ and currency code MUR.
What is a good Mauritian rupee exchange rate?
The BestExchangeRates.com currency comparison table below helps you see the total cost of your currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of rates, enter your transaction type, currencies and amount then click ‘GET RATES’:
Loading rates...
|
|
|
Good things to know about the Mauritian rupee
The Mauritian rupee (MUR) is the official currency of Mauritius, an island nation located in the Indian Ocean. Here are a few things to know about the Mauritian rupee:
- The Mauritian rupee is abbreviated as MUR and is divided into 100 cents.
- The Bank of Mauritius is responsible for issuing and regulating the Mauritian rupee.
- The exchange rate for the Mauritian rupee is determined by supply and demand in the foreign exchange market.
- Mauritius has a large, diversified economy that is heavily reliant on exports, including textiles, sugar, and fish. The country is also a major producer of pharmaceuticals and has a growing tourism industry.
- The Mauritian rupee has been relatively stable in recent years, but the currency has faced challenges due to economic challenges such as high inflation and a large trade deficit. In addition, Mauritius has faced political instability and conflict, which have also had an impact on the value of the Mauritian rupee.
For more MUR information check out our selection of Mauritian rupee news and guides.
Frequently Asked Questions
What currency should I use in Mauritius?
The domestic currency in Mauritius is the Mauritian rupee.
What is the Mauritian rupee currency code and symbol?
The three letter currency code for the Mauritian rupee is MUR — symbol is ₨.
Which countries use the Mauritian rupee?
It is the domestic currency in Mauritius.
Is the Mauritian rupee a closed currency?
No, the Mauritian rupee is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of USD and MUR?
Here are some popular conversion amounts for USD to MUR (US dollar to Mauritian rupee)*.
*Converted at the current USDMUR interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Travel money for Mauritius
Using Wise for Mauritian rupee travel money is a smart choice for savvy travelers. With its competitive exchange rates and low fees, Wise allows you to convert and manage multiple currencies effortlessly.
Be careful when using your own bank's Debit/Credit Card, as your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash on top of the standard Visa/Mastercard 2.5% from market mid-rate.
For card purchases, if you are offered a choice of currencies always select to Pay in Mauritian rupee otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.
If you really want Mauritian rupee cash before departure, you can save money by ordering online. You generally get better rates and can pick up the MUR cash locally or even on travel day at the airport.
Mauritius: Travel Guide
Traveling to Mauritius requires careful financial planning to ensure a smooth and cost-effective experience. Here's a comprehensive guide to help you navigate currency considerations and manage your money effectively during your visit.
Mauritius is a small island nation in the Indian Ocean, east of Madagascar. The population of Mauritius is just under 1.3 million people, and the official languages are English and French. The currency is the Mauritian rupee.
The climate is tropical, and the island is ringed by coral reefs. The terrain is mostly mountainous, with some coastal plains. The capital city is Port Louis, and the largest city is Curepipe.
Mauritius is a popular tourist destination, known for its beaches, resorts, and golf courses. The island is also home to a number of historic sites, such as the Le Morne UNESCO World Heritage site.
Mauritius is a relatively safe and stable country, and expats will find a welcoming and diverse culture. The cost of living is relatively high, but expats will find a good standard of healthcare and education.
Best things to do and see in Mauritius
Some of the best things to do and see in Mauritius include hiking up to Championship Golf Course, exploring the Black River Gorges National Park, and visiting the capital city of Port Louis.
Top Travel tips for Mauritius
When planning a trip to Mauritius, it is important to consider the best time to go. The climate is tropical and it is usually hot and humid. The coolest months are July and August and the warmest months are December and January.
It is also essential to think about what you want to do while you are in Mauritius. There are many activities to enjoy such as swimming, windsurfing, kitesurfing, golfing, and fishing. Mauritius is also a great place to shop and there are many markets to explore.
When it comes to accommodation, there are many hotels and resorts to choose from. However, it is important to book in advance to get the best deals.
When it comes to getting around Mauritius, there are many options. There are buses and taxis which are widely available. There are also car hire companies which can be used to explore the island.
Mauritius is a beautiful island and there are many things to see and do. It is important to plan your trip carefully to make the most of your time in Mauritius.
Is it safe in Mauritius?
In general, Mauritius is a very safe place to travel. There is a low level of crime, and most visitors experience no problems at all. However, as with any destination, it’s always a good idea to exercise caution and be aware of your surroundings.
Everyday Costs in in Mauritius
How much does it really cost to live, work, or travel in Mauritius? Here's what to expect for daily expenses and expat living.
Currency Guide: Mauritius (MU)
For travelers planning to indulge in a lovely week-long mid-range stay in Mauritius, budgeting is essential. Generally, a weekly expense of around 10,000 to 15,000 Mauritian Rupees (MUR) should suffice for a moderately comfortable experience that includes dining, transportation, and accommodation. Here's a quick snapshot of typical daily expenses you might encounter during your visit:
- 🍽️ Meal at a local restaurant: 500 - 1,000 MUR
- ☕ Coffee: 50 - 150 MUR
- 🚌 Public transport fare: 30 - 60 MUR
- 📱 Prepaid SIM card: 500 MUR
- 🏨 Budget hotel or Airbnb: 1,500 - 3,000 MUR per night
When compared to the United States, Mauritius offers a more budget-friendly experience overall. Meal prices, for example, are significantly lower, making dining out more accessible. In comparison with the UK, travelers will find Mauritius to be quite affordable, as restaurant meals and accommodations tend to be less expensive than in London, creating an inviting and cost-effective escape for vacationers.
Expat Living in Mauritius
For expats navigating life in Mauritius, monthly living costs can run between 25,000 and 40,000 MUR. This estimate covers essentials like rent, utilities, groceries, and transportation. Here’s a breakdown of potential living expenses: rent for a one-bedroom apartment in the city center can range from 15,000 to 25,000 MUR, while groceries may add an additional 6,000 to 10,000 MUR to your monthly budget.
When it comes to managing finances, using local banking services and ATMs for daily transactions is convenient; however, make sure to notify your bank of your travels to avoid any disruptions. It's advisable to use card payments where possible since they often offer better exchange rates than cash. For money transfers, online services like Wise or OFX tend to provide excellent rates and lower fees compared to traditional banks, making them a smart choice for sending and receiving money. Overall, while exchanging money locally is common, leveraging online services can save both time and money for expats living in this beautiful tropical paradise.
USD/MUR Market Data
The below interactive chart displays the USD/MUR change and UP📈 DOWN📉 trends over the past 1 Year.
Send Money to Mauritius - Best Rates
To get a good (and fair) exchange rate when sending money to Mauritius you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
Get a better deal for foreign transfers to Mauritius
When sending money to Mauritius it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Mauritian rupee amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted MUR amount will be transfered to the recipient account you specify in Mauritius.
Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Mauritian rupee deposited into the recipient bank account and less margins and fees kept by the banks!
Managing money while living and working in Mauritius
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
Understand Mauritian rupee currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the MUR exchange rate and consider using a money transfer specialist or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local Mauritian rupee bank account: A local MUR bank account can make it easier for you to manage your finances and pay bills while you are in Mauritius. It may also be more convenient to use a local MUR bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Mauritius. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in Mauritius. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in Mauritius, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.
We have put together some key points to help managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Mauritius.
What is the cost of living in Mauritius?
There is no definitive answer to this question as it can vary greatly depending on an individual's lifestyle and budget. However, some estimates place the cost of living in Mauritius at around $1,500-$2,000 per month. This would cover basic expenses such as accommodation, food, transportation, and utilities.
How is the expat life in Mauritius?
The expat life in Mauritius is pleasant and relaxed. Many people who move here find that they quickly develop a strong network of friends, both locals and other expats. There is a strong sense of community and everyone is generally very friendly and welcoming. There are plenty of things to do and see, and the weather is ideal all year round.
Any laws in Mauritius that foreigners should be aware of?
There are no unusual laws that foreigners should be aware of in Mauritius. However, visitors should be cautious of pickpockets and scams in tourist areas.
What is doing business like in Mauritius?
There is no easy answer when it comes to doing business in Mauritius. The business environment is complex, and multi-faceted. There are a number of factors that need to be taken into account when doing business in Mauritius, including the political and economic stability of the country, the level of infrastructure development, the availability of skilled labor, and the overall business climate.
How is the economy in Mauritius?
The economy in Mauritius is doing well. The GDP growth rate is projected to be around 3.5% in 2019. The inflation rate is low and stable, and the unemployment rate is around 7%.