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LOCAL CURRENCY IN MOZAMBIQUE

Need to know waht is the local currency in Mozambique? The local money in Mozambique is called Metical.

The Mozambican Metical is issued and managed by the Banco de Moçambique. To find out the current currency exchange rates for Metical to other major currencies of the world, click on foreign currency rates.

Mozambican Currency Information
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The currency used in Mozambique is called as the Metical. This currency is denoted with the currency sign MT and the ISO 4217 Code for the Mozambican Metical is MZN. The Metical, is the official currency of the Mozambique . It is divided into 100 smaller units called centavo.

The constitution of Mozambique provides that the Mozambique government shall have the power to print the Mozambican Metical and centavo coins to be used as a legal tender in Mozambique. The Mozambican Metical bank notes and Centavo coins are both designated as "legal tender" in payment of debts.

The Mozambican Metical bill uses the decimal system, consisting of 100 equal units.

The symbol MT, usually written before the numerical amount, is used for the Mozambican Metical.

Currently printed bank notes denominations are 20, 50, 100, 200, 500 meticais rarely used 1000 meticais and the coins are minted in the denominations of 50 centavos, 1, 2, 5, 10 meticais obsolete: 1, 5, 10, 20 centavos .

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The Effect of Balance of Trade and Investment on Mozambican Metical
Financial analysts regularly cite the balance of trade and investment in Mozambique as the most important influence on the value of the Metical. The difference between what the Mozambique exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from Metical exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into Metical exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Mozambican Metical.
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