Yesterday, i opened my mail to be surprised by the contents of my credit card statement. I made a purchase on the internet at the start of the month, and guess what! The rate at which the institution is charging me is 3% higher (nearly topping 70) than the official exchange rate. It seems that this practice is quite common especially in this season (where foreign currencies are scarce), and that despite a “rappel a l’ordre” from the governor of the bank of Mauritius at the end of last year. And what surprised me more is that nobody is protesting against this matter of fact.
I remember someone talking about the subject, but then i was completely uninterested about it. I knew there was a shortage of currencies, and perhaps the rate he was talking about is an official one. I was completely wrong. The rate is one operating in the black market. When you ask for foreign currencies in a commercial bank, the operator would tell you there is a shortage, and that you should place an order for such currencies, and would forward you some papers to fill in. Another official in another bank when asked when would the currencies be available, the reply was “it would depend on what price you are prepared to pay”. I mean, if you target to make quick money, then it is in foreign currency dealings that you should be in. The dealers are making lots of money on our heads and we are supporting them in silence. They make “la pluie et le beau temps”