Mozambican metical
Worldwide use:
- Mozambique
Description:
The official currency of Mozambique is the Mozambican Metical. One Mozambican Metical is worth 100 Centavos. Coins are distributed in 50 Centavos as well as 1, 2, 5 and 10 Meticais. Coins of 1, 5, 10 and 20 Centavos also used to be in circulation but are no longer used. Banknotes come in denominations of 20, 50, 100, 200 and 500 Meticais. 1000 Meticais banknotes also exist but are rare.
New coins and banknotes were distributed for the revalued Mozambican Metical in 2006. Old versions were accepted for a further six years until 31 December 2012.
Origin:
Mozambique used the Mozambican Real until 1914 and then the Mozambican Escudo until 1980. There have been two versions of the Mozambican Metical. The first was established on 16 June 1980 in replacement of the Mozambican Escudo. However, due to high inflation, it held the lowest currency value in the world for a while with one Dollar being equal to 24,5000 Meticais. In 2006, the Mozambican Metical was revalued with one new Mozambican Metical being equal to 1000 old Mozambican Meticais.
Component units:
- centavos (100)
Date introduced:
- 1980
Central bank:
- Banco de Moçambique
Printer:
- De La Rue
Mint:
