Mozambique: Metical closes April reinforcing gains against the Euro and US dollar

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Mozambique: Metical closes April reinforcing gains against the Euro and US dollar

2:08 CAT | 30 Apr 2018

The Mozambican currency closed April strengthening gains against both the Euro and the US dollar, according to central bank average exchange rates consulted by Lusa.

Over four consecutive weeks of appreciation, the currency has recovered about 3.50 meticais against the Euro, with the recovery last week being the most pronounced.

In average terms, in the last week, the Euro was bought in the country at 72.22 meticais, 1.74 meticais cheaper than the previous week.

Sale was made at 73.65 meticais per Euro, down 1.78 meticais from the previous week.

The daily average purchase price of the Euro varied between 71.42 and 72.89 meticais, while the asking price ranged between 72.83 and 74.33 meticais.

Last week saw the metical’s sixth consecutive gain against the US dollar, which is used to calculate exchange rates of other currencies in Mozambique, with the Mozambican currency accumulating a gain of around 2.30 meticais.

During the last week, the dollar was bought in the country at 59.28 meticais, 58 metical cents cheaper than the previous week, while sale was made at 60.45 meticais per US dollar, 59 metical cents less.

The daily average purchase price of the US dollar ranged between 59.11 and 59.50 meticais, while the sale price ranged between 60.28 and 60.68 meticais.

Metical average reference exchange rates against the Euro

Euro … buy … sale

Apr 27 … 71.42 … 72.83

Apr 26 … 72.11 … 73.54

Apr 25 … 72.25 … 73.69

Apr 24 … 72.43 … 73.87

Apr 23 … 72.89 … 74.33

Average … 72.22 … 73.65

Metical average exchange rates against the US dollar

USD … buy … sale

Apr 27 ….. 59.11 ….. 60.28

Apr 26 …. 59.19 ….. 60.36