Mozambican Metical Currency | Mozambican

Mozambican Metical

Mozambican metical Currency:

The metical is the official currency of Mozambique and it is subdivided into 100 centavos. On 16 June 1980, the metical (MZM) was introduced by replaced the escudo at par. The country then experienced a period of hyperinflation and the metical briefly became the lowest valued currency unit in the world when compared to the United States dollar.  On July 1, 2006, Mozambique re-valued the metical at a rate of 1000:1.

Coins were introduced in 1980 in the denominations of 50 centavos, 1, 2½, 5, 10 and 20 meticais. In 1994, new coins were issued in the denominations of 1, 5, 10, 20, 50, 100, 500 and 1000 meticais. 5000, 10,000 meticais coins were introduced in 1998, 2003 respectively.  On July 1, 2006, new series of coins were issued in denominations of 1, 5, 10, 20, 50 centavos and 1, 2, 5, 10 meticais. Bank notes were introduced in denominations of 50, 100, 500 and 1,000 meticais in 1980. 5,000, 10,000 meticais were issued in 1989, 1991 respectively and 50,000, 100,000 meticais were issued in 1993 and 20,000 meticais in 1999 and 200,000 and 500,000 meticais in 2003. On July 1, 2006, new series of banknotes were issued in denominations of 20, 50, 100, 200, 500, and 1000 meticais. On October 1, 2011, the central bank of Mozambique, Banco de Moçambique has issued the new banknotes that are similar to the 2006 series, but with enhanced security features.

Mozambican Metical

Mozambican Metical (Mozambique):

Code: MZN

Subunit:       

1/100 = centavo

Symbol: MT

Banknotes:  

20, 50, 100, 200, 500, 1000 meticais

Coins:

1, 5, 10, 20, 50 centavos, 1, 2, 5, 10 meticais

Central bank:         

Banco de Moçambique

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