A part of the Mascarene Islands, the Republic of Mauritius is situated in the Indian Ocean along with Reunion which is a French Overseas Department. Since it gained its independence in 1968, the country has progressed from being a low-income economy that’s based on agriculture to a middle-income diverse economy that’s fueled by industrial, tourist, and financial sectors. Its annual growth that ranges between 5% and 6% is reflected in more equally distributed income, more advanced infrastructure, and improved life expectancy.
The economy of the nation is now based on sugar, textiles and apparel, tourism, and financial services. It is also focused on the development of other sectors such as fish processing, property development, and information and communications technology. With its healthy economic policies and frugal banking system has helped the country alleviate the impact of the global financial crisis that happened between 2008 and 2009.
Mauritius has been using the Mauritian rupee as its legal tender since its introduction in 1877. In 1967, the Bank of Mauritius was formed and has been in charge of the issuance of Mauritian coins and banknotes. It introduced its first series of notes, bearing a portrait of Queen II in a dress of the Order of the Garter. These banknotes were designed by Pietro Annigoni. Undated banknotes were issued without the portrait of Queen Elizabeth II in 1985. On March 12, 1992, the country became a republic.
Recent issues of the Mauritian rupee banknotes are printed on polymer. The 25 and the 50-rupee notes were printed on Innovia Security’s Guardian substrate while the 500-rupee bill was printed on Safeguard substrate by De La Rue. These polymer paper bills carry a number of enhanced security features including numbers printed with magnetic ink, color-shifting swing features in iridescent ink, and transparent windows that reflect a dodo.