Most likely scenario is a "significant cut" in Mozambique's debt - S&P
The Euro continued to appreciate over the past week and this is reflected in Mozambique, too, with the European currency trading at around 72 meticais (average of buying and selling).
The Euro has continued to appreciate against the dollar too, making it more costly in metical terms
Buy average last week was 71.69 meticals, 96 cents more than the previous week, and sale price 73.08 meticais, 99 cents more expensive, according to the weekly averages calculated by Lusa from Central Bank of Mozambique figures.
The average Euro purchase price ranged between 71.07 and 72.02 meticais, while the asking price ranged between 72.44 and 73.41 meticais.
This was the sixth consecutive week in which the metical depreciated against the Euro, losing in total almost five meticals for each unit of the European currency.
The Mozambican currency has however remained relatively stable against the dollar, trading between 59.4 and 61 meticais in the last month.
Meticais average reference exchange rates per Euro