This comprehensive analysis details the historical exchange rate between the Mauritius Rupee (MUR) and the US Dollar (USD) throughout 2024. We provide a month-by-month breakdown of the daily rates, key trends, and essential statistics to help you understand the currency's performance over the year.
2024 MUR to USD Exchange Rate Overview
The overall trend for the Mauritius Rupee against the US Dollar in 2024 was a depreciation.
- Highest Rate: MUR 1 = $0.02366 (March 12, 2024)
- Lowest Rate: MUR 1 = $0.02094 (April 15, 2024)
- Average Rate: MUR 1 = $0.02166
The MUR/USD rate decreased by approximately -5.65% over the course of the year, meaning the Mauritius Rupee lost value relative to the US Dollar.
Monthly Exchange Rate Data for 2024
Below is a detailed look at the daily exchange rates for each month, highlighting the key highs and lows.
January 2024
The year began with relative stability before experiencing some volatility mid-month.
- Best Rate: MUR 1 = $0.02272 (January 2)
- Worst Rate: MUR 1 = $0.02180 (January 29)
- Monthly Average: MUR 1 = $0.02238
February 2024
February saw the currency pair trade within a narrower band, ending the month slightly lower.
- Best Rate: MUR 1 = $0.02225 (February 1)
- Worst Rate: MUR 1 = $0.02135 (February 14 & 16)
- Monthly Average: MUR 1 = $0.02185
March 2024
March was marked by a significant spike, recording the annual high, followed by a steady decline.
- Best Rate: MUR 1 = $0.02366 (March 12)
- Worst Rate: MUR 1 = $0.02154 (March 29)
- Monthly Average: MUR 1 = $0.02182
April 2024
April witnessed the lowest point of the year for the Mauritius Rupee, with a gradual recovery through the second half.
- Best Rate: MUR 1 = $0.02169 (April 10)
- Worst Rate: MUR 1 = $0.02094 (April 15)
- Monthly Average: MUR 1 = $0.02153
May 2024
The currency stabilized in May, trading within a tight range and showing slight signs of strengthening by the month's end.
- Best Rate: MUR 1 = $0.02181 (May 17)
- Worst Rate: MUR 1 = $0.02157 (May 1 & 2)
- Monthly Average: MUR 1 = $0.02168
June 2024
A downward trend characterized June, with the value dipping to new lows for the second quarter.
- Best Rate: MUR 1 = $0.02183 (June 6)
- Worst Rate: MUR 1 = $0.02119 (June 28)
- Monthly Average: MUR 1 = $0.02145
July 2024
July continued the period of relative weakness, with rates hovering near the lower end of the yearly spectrum.
- Best Rate: MUR 1 = $0.02151 (July 18)
- Worst Rate: MUR 1 = $0.02119 (July 4)
- Monthly Average: MUR 1 = $0.02140
August 2024
August showed a modest recovery attempt, with the rate climbing from its July lows.
- Best Rate: MUR 1 = $0.02172 (August 22)
- Worst Rate: MUR 1 = $0.02139 (August 2)
- Monthly Average: MUR 1 = $0.02160
September 2024
The positive momentum continued into September, achieving the highest monthly average since May.
- Best Rate: MUR 1 = $0.02191 (September 25)
- Worst Rate: MUR 1 = $0.02145 (September 3)
- Monthly Average: MUR 1 = $0.02174
October 2024
October was a month of fluctuation, with no clear sustained direction, ending slightly lower.
- Best Rate: MUR 1 = $0.02180 (October 23)
- Worst Rate: MUR 1 = $0.02147 (October 7 & 8)
- Monthly Average: MUR 1 = $0.02164
November 2024
November experienced increased volatility, with a sharp drop mid-month before a partial rebound.
- Best Rate: MUR 1 = $0.02182 (November 4)
- Worst Rate: MUR 1 = $0.02108 (November 14)
- Monthly Average: MUR 1 = $0.02146
December 2024
The year ended on a softer note, with the Mauritius Rupee weakening slightly in the final month.
- Best Rate: MUR 1 = $0.02151 (December 17)
- Worst Rate: MUR 1 = $0.02119 (December 20)
- Monthly Average: MUR 1 = $0.02136
Factors Influencing the MUR/USD Exchange Rate
Exchange rates are influenced by a complex interplay of global and domestic factors. For Mauritius, key influencers include:
- Tourism Revenue: As a major economic pillar, fluctuations in tourist arrivals can impact foreign currency inflows.
- Sugar and Textile Exports: The performance of these key export sectors affects trade balances and currency demand.
- Global Commodity Prices: The cost of imported goods, especially oil, can affect the nation's import bill and currency strength.
- Monetary Policy: Decisions by the Bank of Mauritius on interest rates can influence foreign investment flows.
- Global USD Strength: Broader trends in the US Dollar's value on international markets invariably affect the MUR/USD pair.
For those tracking these variables in real-time, 👉 monitor live currency tools can be incredibly useful for making informed decisions.
Frequently Asked Questions
What was the lowest exchange rate for the Mauritius Rupee to the US Dollar in 2024?
The lowest exchange rate recorded in 2024 was on April 15, when 1 Mauritius Rupee was worth 0.02094 US Dollars.
When did the Mauritius Rupee reach its strongest point against the US Dollar in 2024?
The Mauritius Rupee was at its strongest on March 12, 2024, reaching an exchange rate of 1 MUR to 0.02366 USD.
What was the average conversion rate throughout the year?
The average exchange rate between the Mauritius Rupee and the US Dollar across all of 2024 was 1 MUR to 0.02166 USD.
How much did the Mauritius Rupee depreciate against the US Dollar in 2024?
The Mauritius Rupee depreciated by approximately 5.65% against the US Dollar over the course of the year.
Which month had the most stable exchange rate?
May 2024 was a period of notable stability, with the exchange rate fluctuating within a very tight range between 0.02157 and 0.02181.
Is historical data reliable for predicting future exchange rates?
While historical data is essential for identifying trends, past performance is not a reliable indicator of future results. Exchange rates are forward-looking and are influenced by future economic data, geopolitical events, and market sentiment. To stay updated, 👉 explore more market analysis strategies.