Fitch lowers Mozambique's rating to CCC and worsens economic forecasts
Mozambican currency closes week stable against the Euro and US dollar
10:02 CAT | 22 Oct 2018
In file CoM
The Mozambican currency closed last week without major fluctuations against the Euro or the US dollar, according to daily exchange rates released by the central bank and followed by Lusa.
During the past week, the Euro was bought in the country for an average of 69.15 meticais while the sale was made on average at 70.52 meticais, practically the same as the previous week.
The US dollar has also not registered any fluctuation. A unit of the American currency was bought last week for 59.95 meticais on average, while sale was taking place at 61.14 meticais on average.
The US currency serves as the basis for calculating the reference exchange rates for the other currencies in Mozambique.
The last week was the first with five full business days after three shorter weeks, each with one day less because of holidays and the holding of local elections.
Metical average reference exchange rates against the Euro
Euro … buy … sale
19 Oct ….. 68.74 ….. 70.08
18 Oct ….. 68.97 ….. 70.34
17 Oct ….. 69.29 ….. 70.65
16 Oct ….. 69.39 ….. 70.77
15 Oct ….. 69.37 ….. 70.76
Average ….. 69.15 ….. 70.52
Metical average reference exchange rates against the US dollar
USD … buy … sale
19 Oct ….. 59.98 ….. 61.16
18 Oct ….. 59.95 ….. 61.14
17 Oct ….. 59.96 ….. 61.14
16 Oct ….. 59.93 ….. 61.12
15 Oct ….. 59.92 ….. 61.12
Average ….. 59.95 ….. 61.14
Source: Bank of Mozambique
Source: Lusa
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