Seychelles, an archipelago in the Indian Ocean, is home to numerous nature reserves, coral reefs, and beaches. The official currency of Seychelles is the Seychelles Rupee (SCR) which can be subdivided into 100 cents. The Central Bank of Seychelles, through its monetary policy, regulates and oversees the circulation of the rupee. The currency is known as the roupi in the native Creole Seychellois (Seselwa) dialect. In 1914 while it was still a British colony, Seychelles established rupees as its national currency. The country also accepted the Mauritian rupee from its neighbor.
At first, Seychelles only circulated banknotes in denominations of 50 cents and then 1, 5, and 10 rupees. In 1939, coins appeared in use. The Seychelles Rupee coins come in denominations of 1, 5, 10, and 25 cents, and then 1, 5, and 10 rupees. Banknotes now include denominations of 25, 50, 100, and 500 rupees.4 The currency features the surrounding ocean home or wildlife that calls the islands. The 50-rupee note shows tropical fish, a tuna, and an aquatic bird. The 100-rupee note portrays seagulls, a tortoise, and more fish. The newer, extra secure series of notes were issued in 1989, 1998, and 2011, with the 2011 series utilizing a holograph. In 2016, the most recent series of the currency was issued as the nation commemorated 40 years of its independence.
Around 90% of the nation's 96,000 inhabitants reside on Mahe, the biggest island in the chain. Its primary economic activities include growing vanilla beans, tourism, coconut harvesting, and fishing. Seychelles' agricultural products include bananas, cassava, and sweet potatoes. Almost all of the islands are composed of granite and are not suited for farming. The nation sets aside around 42% of its landmass for conservation.
The country's services sector, which includes tourism, produces 83.7% of its annual GDP, which brings in around $2.9 billion in economic activity. Tourism employs about 26% of the lands' 51,000 workers. The country has a massive disparity in income, and poverty is widespread. According to the data from World Bank, as of 2019, Seychelles has a gross domestic product (GDP) growth of 5.3% and experienced a 1.8% annual inflation rate, which is the most current year of available information. Most of the increase in GDP is because of the nation's strong tourism industry.