Mozambican currency appreciated by more than one metical against the Euro in the last week

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Mozambican currency appreciated by more than one metical against the Euro in the last week

11:23 CAT | 03 Oct 2017

The Mozambican currency appreciated by more than one metical against the Euro last week, as a result of the fall of the European currency against the US dollar, a reference for Mozambique’s exchange rate.

In average terms, last week (shorter due to the 25 September Armed Forces Day holiday in Mozambique), the Euro was bought in the country at 71.51 meticais, 1.14 meticais more than the average the previous week.

In turn, the sale was made at 72.88 meticais for each Euro, a transaction 1.16 meticais cheaper, according to the weekly averages calculated by Lusa from Bank of Mozambique data.

The average purchase price of the Euro during the week ranged between 71.29 and 71.73 meticais, while the asking price ranged between 72.67 and 73.09 meticais.

Last week saw the highest metical appreciation against the Euro since the end of May, when the exchange reached year lows of 65.83 and 67.14 meticals for each unit of European currency, buying and selling, respectively.

Meanwhile, the Mozambican currency remained practically unchanged against the US dollar (which is the basis for the calculation of the remaining currencies) with purchase averages at 60.70 and sales at 61.87 meticais.

Meticais average reference exchange rates against the Euro

Day … buy … sale

29 Sept … 71.65 … 73.03

28 Sept … 71.36 … 72.74

27 Sept … 71.29 … 72.67

26 Sept … 71.73 … 73.09

25 Sept (public holiday)

average … 71.51 … 72.88

source: Banco de Moçambique

Source: Lusa