History
The Seychellois, or Seychelles Rupee was introduced in 1914, coinciding with the global economic impact of World War I. Initially in banknote form only, The Seychellois Rupee circulated alongside and was equal to the Mauritian rupee, which had circulated in the Seychelles since 1877. The Mauritian rupee had replaced sterling, which had circulated since 1810. Only in 1939 were coins introduced specifically for use in the Seychelles.
Until 2008, the value of the Seychelles rupee was tied to a currency basket comprising 59 percent Euros, 31 percent British Pounds, and 10 percent U.S. Dollars. The currency was freely floated on November 2, 2008, promptly sinking 43% to 19.97 per euro on the first day of trading.
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