Restructuring the only way out Mozambique's dilemma
After the very rapid devaluation in 2016, the Metical is recovering some of its value.
From a low of MT 78 = $1 and MT 5.6 = Rand 1 in October 2016, the Metical stabilised during February-April this year at about MT 71 = $1 and MT 5.4 = Rand 1, and by this week had reached MT 61 = $1 and MT 4.6 = Rand 1.
See below an exchange rate chart for the past decade:
By Joseph Hanlon.Source: News Reports & Clippings