Metical logs slight losses against the Euro and US dollar

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Metical logs slight losses against the Euro and US dollar

1:05 CAT | 17 Sep 2018

The Mozambican currency fell slightly against the Euro and the US dollar last week, according to the average daily exchange rates released by the central bank and followed by Lusa.

During the last week, the Euro was bought in Mozambique at an average of 69.31 meticais, or 32 metical cents more than the previous week, while the sale averaged 70.69 meticais, 33 metical cents more.

Since the week of August 20, when the metical posted a 12-month high against the European currency, the trend has reversed and the Euro has appreciated by about 3.50 meticais, both buying and selling.

The US dollar also appreciated last week, rising 15 metical cents an average of 59.67 meticais, while sale took place at 60.86 meticais, 16 metical cents more.

The US currency is the currency that is used as the basis for calculating the reference exchange rates for the other currencies in Mozambique.

Metical average reference exchange rates against the Euro

Euro … buy … sell

14 Sep ….. 69.86 ….. 71.24

13 Sep ….. 69.47 ….. 70.86

12 Sep ….. 69.1 ….. 70.48

11 Sep ….. 69.12 ….. 70.5

10 Sep ….. 68.99 ….. 70.37

average ….. 69.31 ….. 70.69

Metical average exchange rates against the US dollar

USD … buy … sell

14 Sep ….. 59.77 ….. 60.95