Mozambique: Prices skyrocket at the Zimpeto wholesaler
The Mozambican currency appreciated slightly against the Euro and the US dollar last week at the central bank’s average benchmark exchange rates.
The metical has recovered some ground as a result of the depreciation of the European currency against the dollar, which serves as the basis for calculating the currency exchange rates in Mozambique.
In average terms, last week, the Euro was bought in the country at 70.58 meticais, 82 metical less than the average of the previous week.
In turn, the sale was made at 71.93 meticais for each Euro, metical 84 cents cheaper, according to the weekly averages calculated by Lusa from Bank of Mozambique data.
The average purchase price of the Euro last week varied between 69.97 and 71.09 meticais, while the asking price ranged between 71.32 and 72.42 meticais.
The Mozambican currency also gained a few cents against the US dollar with buying averages at 59.74 and selling at 60.89.
Metical vs Euro average reference exchange rates
Euro … buy … sale
08 Dec … 69.97 … 71.32
07 Dec … 70.29 … 71.65
06 Dec … 70.62 … 71.98
05 Dec … 70.92 … 72.28
04 Dec … 71.09 … 72.42
Average … 70.58 … 71.93
Source: Banco de Moçambique
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