Metical: Stable against the Euro, losing against the Dollar

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Metical: Stable against the Euro, losing against the Dollar

11:00 CAT | 13 Feb 2018

The Mozambican currency remained stable against the Euro in the last week but depreciated again against the US dollar, according to the central bank’s average reference exchange rates, followed by Lusa.

In the last three weeks, devaluation against the US dollar has been around two meticais.

The US dollar is the currency used to calculate the reference exchange rates for other currencies in Mozambique.

Over the last week, the US dollar was bought in the country at 60.31 meticals, 48 metical cents more expensive than the previous week.

Sale was made at 61.51 meticals per dollar, 50 metical cents more.

The daily average purchase price of the US dollar ranged between 60.24 and 60.36 meticais, while the sale price ranged between 61.44 and 61.56 meticais.

In contrast, the metical remained almost unchanged against the Euro.

In average terms, the Euro was purchased in Mozambique last week at 74.41 meticais, four metical cents more expensive than the previous week.

The sale was made at 75.89 meticais per Euro, five metical cents more.

The daily average Euro purchase price ranged between 73.91 and 74.99 meticais, while the asking price ranged between 75.37 and 76.48 meticais.

Metical average reference exchange rates against the Euro

Euro … buy … sale

09 Feb … 73.91 … 75.37

08 Feb … 73.95 … 75.43

07 Feb … 74.59 … 76.08

06 Feb … 74.6 … 76.08

05 Feb … 74.99 … 76.48

Average … 74.41 … 75.89