Mozambique: Central Bank lays down new exchange rate rules
The Bank of Mozambique is today introducing its new series of metical notes, bearing the signature of governor Rogério Zandamela and with the date of the issue, June 16, 2017.
The new 1,000, 500 and 200 metical notes are made of conventional paper, while the 100, 50 and 20 metical notes are made with a polymer substrate suited to humid climates and giving the notes greater strength and durability.
This information was presented by Benedita, director of the issuing department at the Bank of Mozambique, during a workshop for journalists organised by the Bank of Mozambique in partnership with the National Union of Journalists.
“The Bank of Mozambique introduced a new metical family known as the Bank of Mozambique family, in 2006. Since then, it has been updating the series of notes and tomorrow (today), June 16, the day we celebrate the 37th anniversary of the creation of the metical, the currency that represents our economic independence, the sovereignty of our people. The third, 2017 metical series, will be placed in the market bearing the signature of Rogério Zandamela, current governor of the bank. These notes will circulate simultaneously with those of the first and second series, signed by former governors Adriano Maleiane and Ernesto Gove,” Guimino said.
The new series does not include coins, and the 2006 designs will remain in circulation. “The 2017 series does not include coins and maintains the features and security features of the [second] 2011 series with the exception of the signature of the acting governor and the date it is put into circulation,” Guimino explained.
Guimino said that the aim was to provide notes and coins of good quality that were difficult to counterfeit.
“We want to ensure the circulation of genuine banknotes in the economy and the Bank of Mozambique develops strategies and actions aimed at preventing and countering currency counterfeiting,” Guimino said.Source: Diário de Moçambique