The governor of the Bank of Mauritius, Harvesh Seegolam announced that his institution has sent warning letters to four banks and sanctions will be taken against eight banks without mentioning them.

Harvesh Seegolam, last week renewed this institution's commitment to prevent attempts to manipulate the foreign exchange market. Indeed, he announced that warning letters had been sent to four banks and that sanctions would be taken against eight banks but did not mention them. He invited GSBF members to study very closely the impact of rising interest rates around the world on financial stability in the member jurisdictions of the group. According to him, it is necessary to protect not only consumer segments but the financial markets themselves in a volatile international context.” According to him, the Bank will intervene in a sustained manner to strengthen the value of the Mauritian rupee.