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The Mozambican currency depreciated by more than one metical for the second consecutive week against the Euro, according to the average daily exchange rates released by the central bank.
During the last week, the Euro was bought in the country for an average of 69.05 meticais, 1.36 meticais more than the previous week, while sale was made at an average 70.43 meticais, 1.39 meticais more.
Since the week of August 20, when the Metical rose to 12-month highs against the European currency, the trend has reversed, and the Euro has increased in price by more than three meticais, both on the buying and selling side.
As to the US dollar, each unit of the American currency was bought on average at 59.18 meticais in the last week, 47 meticais cents more expensive than the previous week, while the sale was made at 60.36 meticais on average, 48 cents more.
The US currency is used as the basis for calculating the reference exchange rates for all other currencies in Mozambique.
Metical/Euro average reference exchange rates
Euro … buy … sell
31 Aug …. 69.19 ….. 70.57
30 Aug …. 69.32 ….. 70.7
29 Aug …. 69.08 ….. 70.46
28 Aug …. 69.14 ….. 70.51
27 Aug …. 68.53 ….. 69.89
Average .. 69.05 ….. 70.43
Metical/US dollar average reference exchange rates
USD … buy … sell
31 Aug …. 59.34 ….. 60.52
30 Aug …. 59.29 ….. 60.47
29 Aug …. 59.19 ….. 60.38
28 Aug …. 59.09 ….. 60.26
27 Aug …. 58.99 ….. 60.16
Average .. 59.18 ….. 60.36
Source: Bank of Mozambique
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