Make Payments and Receive Payments in MUR - Mauritian Rupee
Pay in Mauritian Rupees (MUR)
Mondial Change allows you to make international payments in MUR (Mauritian Rupee) with ease. Manage your Mauritian Rupee beneficiaries, track your transactions in real-time, and benefit from a secure online platform. We do not apply any exchange commission on your MUR operations (a spread is applied on the exchange rate, which slightly degrades the interbank rate on the currency pair traded). Your client rate is always communicated transparently before the validation of each of your transactions.
Receive Payments in MUR (Mauritian Rupee)
Mondial Change allows you to receive payments in Mauritian Rupee (MUR). The receipt of payments in MUR is done through a pool account held by one of our partners. This MUR account is made available to you free of charge. It allows you to receive MUR payments from your clients or subsidiaries. Once the funds are received in the pool account, they are reconciled in our partner's books and credited to your Mauritian Rupee (MUR) balance. These funds can be reused to make payments in MUR or they can be converted into EUR or any other currency of your choice and repatriated to your bank account.
Do you want to hedge your exchange risk on the Mauritian Rupee (MUR)? Check our dedicated page for MUR currency hedging.
Mondial Change Answers All Your Questions About Payments in Mauritian Rupees (MUR)
What is the timeframe for a MUR payment to be credited to the beneficiary's account?
It generally takes between 1 and 2 business days for a Mauritian Rupee transfer to be credited to the beneficiary's account. However, please note that these timeframes are not contractual, and our partners responsible for executing and routing payments cannot be held liable if MUR payments are credited beyond 2 business days to the beneficiary's account.
What are the fees for a payment in Mauritian Rupee (MUR)?
The fees applied to transfers in Mauritian Rupee (MUR) generally range from 0 to 10 euros depending on the agreement with Mondial Change's trading desk. The rate primarily depends on your annual MUR exchange volume and the number of Mauritian Rupee payments made during the year.
Are there minimum or maximum amounts for payments in Mauritian Rupee (MUR)?
Mondial Change and its partners verify that your Mauritian Rupee flows are consistent with the data declared during account opening and consistent with your activity volume to ensure compliance and security. If there are restrictions on transaction volumes, they will be communicated to you well in advance of the validation of your operations.
What are the specific rules for executing a payment in Mauritian Rupee (MUR)?
For payments in MUR via the SWIFT network, you simply need to provide the following information:
• Full name of the beneficiary
• IBAN
Is it possible to modify a payment in Mauritian Rupee (MUR) after it has been executed?
Yes, it is possible with some of our partners to modify a payment in Mauritian Rupee (MUR) even after it has been sent through SWIFT. If you have, for example, made an error in the beneficiary's name or account number, the correction is made through a SWIFT amendment. If the payment was not executed via the SWIFT network, then it is not possible to make such amendments, and you must wait for the payment to be returned if applicable.
Is the Mauritian Rupee (MUR) account provided to you a bank account and is it nominative?
The Mauritian Rupee (MUR) account for which we provide you the details is a bank account opened in the name of one of our partners. It is a pool account where all MUR transfers are received. The reconciliation of funds on your MUR balance is generally done with your client account reference. You have a guarantee of segregation of your funds in our partners' books.
Is it possible to hold Mauritian Rupees (MUR) in the MUR account provided to you?
You can use this Mauritian Rupee (MUR) account to receive Mauritian Rupees. The currencies will then be credited to your MUR balance opened in our partner's books. The funds can then be reused to issue payments in Mauritian Rupee or be converted into other currencies.
What are the holidays when payments in Mauritian Rupee (MUR) cannot be executed?
January 1st: New Year's Day
January 2nd: Second Day of New Year
Variable date (January/February): Chinese New Year
Variable date: Thaipoosam Cavadee
Variable date: Maha Shivaratree
March 12th: Independence and Republic Day
Variable date: Ougadi (Tamil New Year)
May 1st: Labour Day
Variable date: Eid al-Fitr (Eid-ul-Fitr)
Variable date: Ganesh Chaturthi
August 15th: Assumption
Variable date: Divali
November 1st: All Saints' Day
November 2nd: Arrival of Indentured Labourers
December 25th: Christmas
History of the Mauritian Rupee
The Mauritian Rupee (MUR) is the official currency of Mauritius, a popular destination known for its white sandy beaches, turquoise waters, and cultural diversity. As the national currency, the Mauritian Rupee plays a crucial role in the country's economy, facilitating exchanges both nationally and internationally. The Mauritian Rupee is subdivided into 100 subunits called cents, its ISO code is MUR, and its symbol is Rs. The banknotes in circulation are available in denominations of 25, 50, 100, 200, 500, 1,000, and 2,000 rupees, while coins are issued in denominations of 1, 5, 10, 20, and 50 rupees. The Bank of Mauritius is responsible for issuing and regulating the Mauritian currency, ensuring its stability and integrity.
Monetary Policy of the Mauritian Rupee
The Bank of Mauritius, as the central monetary institution, implements a monetary policy aimed at maintaining price stability and supporting economic growth. To achieve these objectives, it closely monitors key economic indicators such as inflation, exchange rate, and GDP growth. By adjusting interest rates, the bank can influence domestic demand, control inflation, and regulate exchange market stability.
Characteristics of the Mauritian Rupee
The Mauritian Rupee has certain characteristics. Firstly, it is widely accepted in shops, hotels, and restaurants in Mauritius, facilitating transactions for foreign visitors. Additionally, the Mauritian currency is relatively stable, offering investors and businesses a degree of confidence when operating in the Mauritian market. Finally, it is important to note that the Mauritian Rupee is not freely convertible, meaning there may be restrictions on international transactions of this currency.