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In Mauritius ready to regret restricting exercise (5)

Ross

I believe the answer is:

rupee

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'in mauritius ready' is the definition.
Although both the answer and definition are singular nouns, I can't understand how they can define each other.

'regret restricting exercise' is the wordplay.
'regret' becomes 'rue' (to rue something is to regret it).
'restricting' is an insertion indicator.
'exercise' becomes 'pe' (Physical Education).
'rue' going around 'pe' is 'RUPEE'.

'to' acts as a link.

Can you help me to learn more?

(Other definitions for rupee that I've seen before include "Indian currency unit" , "11 [LOLLY] in Kerala" , "foreign money" , "Indian bread" , "cash" .)

I've seen this clue in The Times.
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