The Bank is currently the settlement bank of the REPSS and settles transactions in US Dollars and Euro on the same day for 9 central banks in the COMESA region, namely those of the Democratic Republic of Congo, Egypt, Eswatini, Kenya, Malawi, Rwanda, Uganda, Zambia and of course Mauritius.
First, rising geopolitical tensions are affecting prices of Ukrainian assets and FX market conditions. Second, global prices for natural gas and food exceed the NBU’s expectations and are likely to remain high in the coming months. Third, higher global inflation is prompting leading central banks to step up their monetary policy tightening.