Mauritius, Currency

The rupee is the currency of Mauritius. It is divided into 100 cents. The code of this currency is MUR.
The rupee was introduced into Mauritius in 1877, replacing the Indian rupee, sterling and the Mauritian dollar, with the Mauritian rupee equal to one Indian rupee or half a Mauritian dollar. The pound was worth 10¼ rupees at that time.
Until 1934, the Mauritian rupee was directly tied to the Indian rupee. However, unlike the Indian rupee, the Mauritian rupee was a decimal currency from the start. The Mauritian currency also circulated in the Seychelles until 1914, when it was replaced by the Seychelles rupee at par. Read more

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A currency is a unit of exchange, facilitating the transfer of goods and services. It is a form of money, where money is defined as a medium of exchange (rather than e.g. a store of value). A currency zone is a country or region in which a specific currency is the dominant medium of exchange. To facilitate trade between currency zones, there are exchange rates i.e. prices at which currencies (and the goods and services of individual currency zones) can be exchanged against each other. Currencies can be classified as either floating currencies or fixed currencies based on their exchange rate regime. In common usage, currency sometimes refers to only paper money, as in "coins and currency", but this is misleading. Coins and paper money are both forms of currency. Read more

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