Seychelles Rupee


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Seychelles Rupee

The currency of the Seychelles. Introduced in 1914, it initially circulated alongside the Mauritian rupee, the previous currency. For a long time, it was pegged to a currency basket consisting of euros, British pounds and U.S. dollars. It began to float in November 2008 and devalued considerably.
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In the past, the Government did not demonstrate favoritism toward one religion over another; however, in 2003 the Government gave a grant of $400,000 (2 million Seychelles rupees) to the Anglican Church to construct a new cathedral, and $400,000 to the Roman Catholic Church.