Mozambique’s economy contracts for third straight quarter - INE
Metical depreciates against Euro again
12:03 CAT | 17 Jul 2017
The Metical has depreciated against the Euro again, with the European currency being bought in the country on average at 68.62 Meticais last week, 48 cents more than the previous week.
In turn, Euros were selling at 69.93 Meticais, 45 cents more than last week, according to the weekly averages calculated by Lusa from Bank of Mozambique data.
The average purchase price of the Euro ranged between 68.36 and 68.87 Meticais, while the asking price ranged between 69.67 and 70.17 Meticais.
This is the third consecutive week in which the Metical has depreciated against the Euro, losing nearly two Meticais for each unit of the European currency in total.
The Mozambican currency has been generally appreciating since September2016, when it bottomed at 88 Meticais per Euro.
Average reference exchange rates of the Euro in Meticais
Day … buy … sell
14 June … 68.75 … 70.04
13 June … 68.69 … 70.01
12 June … 68.87 … 70.17
11 June … 68.42 … 69.75
10 June … 68.36 … 69.67
Average … 68.62 … 69.93
Banco de Moçambique
Source: Lusa
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