29 January 2013

Mozambique: Metical Depreciates in First Fortnight

Maputo — In the first two weeks of January the Mozambican currency, the metical, depreciated by 0.61 per cent against the US dollar.

According to the central bank, Bank of Mozambique, the average quotation for the metical against the dollar on the Interbank Exchange Market was 29.69. In comparison, on the last day of the year the metical was quoted at 29.51 to the dollar.

Figures from the Bank of Mozambique show that one Euro was worth 39.54 meticais and the South African rand worth 3.4 meticais. This represents an appreciation of the metical of 2.02 per cent against the rand and a depreciation of 1.59 per cent against the Euro.

Over the last twelve months the metical has depreciated by 9.07 per cent against the dollar, 14.71 per cent against the Euro and 1.49 per cent against the rand.

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