Mozambique: Central bank cuts interest rates - AIM report
Euro appreciates against the Metical after hitting one-year low
11:58 CAT | 13 Jun 2017
Lusa (File)
The Euro has appreciated on average almost a metical over the last week, according to the average reference exchange rates published daily by the Bank of Mozambique.
During the week of 5 to 9 June, the Euro sold for between 67.01 and 67.57 meticais, while the purchase price ranged between 68.31 and 68.89.
The weekly average calculated by Lusa was 67.38 meticais to buy and 68.77 to sell.
These figures represent an increase of 0.92 meticais in the purchase and 0.93 in the sale price over the previous week.
On 30 May, the Euro purchase price fell to 65.81 meticais and the sale to 67.14, the lowest for the year.
The Mozambican currency has been appreciating since September 2016, when the Euro reached 88 meticais.
In April this year, the Euro was selling on most days for just above 70 meticais, but since 8 May it has been trading below that value.
Meticais average reference exchange rates for the Euro:
Day ………….. Buy ………. Sale
June 09 ……. 67.01 ………. 68.31
June 08 …….. 67.40 ………. 68.71
June 07 ……. 67.56 ………. 68.89
June 06 ……. 67.57 ………. 68.88
June 5 ……. 67.36 ………. 68.69
Average of the week … 67.38 ………. 68.70
Day ………….. Buy ………. Sale
June 2 ……. 67.11 ………. 68.44
June 1 ……. 66.90 ………. 68.22
May 31 …….. 66.46 ………. 67.73
May 30 …….. 65.83 ………. 67.14
May 29 …….. 66.02 ………. 67.31
Average of the week … 66.46 ………. 67.77
(Source: Bank of Mozambique)
Source: Lusa
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