The net foreign currency reserves of Mauritius stands at US$ 2.9 billion by end August, according to a release of the Bank of Mauritius (BoM), APA learns in the Mauritian capital Port Louis on Saturday.

The release indicates that the reserves represent the equivalent of 42.8 weeks of importation and has increased by US$ 500 million compared to August 2008.

BoM also mentions the appreciation of the local currency, the Rupee in relation to major world currencies and adds that the Rupee has appreciated by some 5% against the US Dollar.

Likewise, the communiqué declares that the local currency has registered a high appreciation of 8% against the British Pound, but has depreciated against the Japanese Yen, the Australian Dollar and the South African Rand.

The release revealed that revenue in the tourism sector has fallen by 17.4% during the period January-August 2009 compared to the same period of 2008 and now stands at US $ 800 million and states that Mauritius hosted 548 741 from January to August 2009 which is 9.8% less that the same period of 2008.

The world economic downturn has had a negative effect on tourist arrivals. Likewise tourists have spent less during their stay in the island, noted the release.