MAURITIAN RUPEE Meaning and
Definition
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The Mauritian Rupee refers to the official currency of Mauritius, a small island nation located in the Indian Ocean. It is denoted by the international currency code MUR and is issued by the Bank of Mauritius.
The Mauritian Rupee is subdivided into 100 units called cents. Coins are available in denominations of 5, 20, and 50 cents, as well as 1 and 5 rupees. Banknotes circulate in denominations of 25, 50, 100, 200, 500, 1,000, and 2,000 rupees.
The currency's value in relation to other currencies is determined by the foreign exchange market. The Mauritian Rupee is predominantly used in Mauritius for everyday transactions within the country.
The currency's name, "rupee," derives from the Sanskrit word "rupya" which means "wrought silver." This reflects the historical use of silver coins as a medium of exchange in the region. The Mauritian Rupee became the official currency of Mauritius in 1876 after replacing the Mauritian Dollar.
As a stable and widely accepted currency, the Mauritian Rupee plays a crucial role in facilitating the domestic and international trade of goods and services in Mauritius. It contributes to the country's economic growth by promoting financial stability, facilitating commerce, and serving as a measure of value for domestic transactions. The Central Bank of Mauritius is responsible for managing the currency's circulation, ensuring its integrity, and implementing monetary policies to maintain price stability.
Common Misspellings for MAURITIAN RUPEE
- nauritian rupee
- kauritian rupee
- jauritian rupee
- mzuritian rupee
- msuritian rupee
- mwuritian rupee
- mquritian rupee
- mayritian rupee
- mahritian rupee
- majritian rupee
- mairitian rupee
- ma8ritian rupee
- ma7ritian rupee
- maueitian rupee
- mauditian rupee
- maufitian rupee
- mautitian rupee
- mau5itian rupee
- mau4itian rupee
Etymology of MAURITIAN RUPEE
The etymology of the word "Mauritian Rupee" is derived from the currency unit "rupee", combined with the adjective "Mauritian", which refers to Mauritius. Here is a breakdown:
1. Rupee: The term "rupee" can be traced back to the Sanskrit word "rūpya", which means "wrought silver" or "silver coin". It originally referred to a silver coin used in various regions of South Asia.
2. Mauritian: The term "Mauritian" pertains to or originates from Mauritius, an island nation located in the Indian Ocean off the eastern coast of Africa. The adjective is used to specify that the rupee in question belongs to Mauritius.
When combined, "Mauritian Rupee" signifies the currency of Mauritius, which is the official legal tender used in the country.
