Metical appreciates against the Euro for 3rd consecutive week

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Metical appreciates against the Euro for 3rd consecutive week

11:46 CAT | 07 Nov 2017

The Mozambican currency appreciated slightly against the Euro for the third consecutive week, according to the central bank’s average reference exchange rates.

This comes in the wake of the metical’s appreciation against the dollar and the continuing fall of the Euro against the US currency, which serves as the basis for calculating other exchange rates.

In average terms, last week, the Euro was being bought in Mozambique for 70.09 meticais, 71 metical cents less than the previous week’s average.

In turn, the sale was being made at 71.41 meticais per Euro, 71 metical cents cheaper, according to the weekly averages determined by Lusa from Bank of Mozambique data.

The average purchase price of the Euro last week ranged between 69.96 and 70.24 meticais, while the asking price ranged between 71.28 and 71.57 meticais.

The Mozambican currency added a few cents to the slight appreciation of previous weeks against the US dollar (which is the basis for the calculation of the remaining currencies) with buying averages at 60.23 and selling at 61.36.

Metical – Euro average reference exchange rates

Euro … buy … sale

03 Nov … 70.24 … 71.57

02 Nov … 70.2 … 71.5

01 Nov … 70.01 … 71.34

31 Oct … 70.05 … 71.36

30 Oct … 69.96 … 71.28

Average … 70.09 … 71.41

Source: Banco de Moçambique

Source: Lusa