Metical appreciates against Euro and US dollar

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Metical appreciates against Euro and US dollar

10:26 CAT | 08 Oct 2018

File photo: DW

The Mozambican currency appreciated by more than one metical against the Euro during the last week, according to the daily exchange rates published by the Bank of Mozambique.

Last week was shorter for the foreign exchange market, with four rather than five trading days due to the Peace Day holiday celebrated on October 4 in Mozambique.

Over the last week, the Euro was bought in the country at an average of 69.25 meticais, down 1.14 meticais on the previous week, while the sale averaged 70.63 meticais, or 1.16 meticais cheaper.

In relation to the US dollar – the currency used as the basis for calculating the reference exchange rates for all other currencies in Mozambique – each unit was bought for 59.95 meticais on average during the last week, that is, 18 metical cents less than the previous week, while sale was made on average at 61.15 meticais, also 18 metical cents less.

Meticais average reference exchange rates against the Euro

Euro …… buy …. sale

05 Oct ….. 68.95 ….. 70.33

04 Oct ….. (public holiday in Mozambique)

03 Oct ….. 69.27 ….. 70.65

02 Oct ….. 69.15 ….. 70.53

01 Oct ….. 69.61 ….. 70.99

Average ….. 69.25 ….. 70.63

Meticais average exchange rates against the US dollar

USD ….. buy ….. for sale

05 Oct ….. 59.89 ….. 61.09

04 Oct ….. (holiday in Mozambique)