Metical drops against Euro and US dollar

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Metical drops against Euro and US dollar

1:00 CAT | 05 Feb 2018

The Mozambican currency lost almost one metical against the US dollar last week, the third successive weekly drop, according to Bank of Mozambique benchmark exchange rates, followed by Lusa.

In the last three weeks, the metical has fallen 1.5 meticais against the US dollar, which is the currency used to calculate the reference exchange rates for other currencies in Mozambique.

The devaluation against the Euro is even greater, exacerbated by the rise of the European currency against the US dollar. In four weeks, the Euro has appreciated 4.5 meticais.

On average terms, the Euro was bought in the country at 74.37 meticais in the last week, 1.6 meticais more expensive than in the previous week.

The sale was made at 75.84 meticais per Euro, 1.72 meticais more.

The daily average purchase price of the Euro varied between 73.71 and 75.16 meticais, while the asking price ranged between 75.17 and 76.67 meticais.

The US dollar was bought in Mozambique last week for 59.83 meticais on average, 91 metical cents more than the previous week.

The sale was made at 61.01 meticais per dollar, 92 metical cents more.

The daily average purchase price of the US dollar varied between 59.42 and 60.19 meticais, while the sale price ranged between 60.6 and 61.39 meticais.

Average Euro exchange rates in Meticais

02 Feb … 75.16 … 76.67

01 Feb … 74.64 … 76.08

31 Jan … 74.51 … 75.96

30 Jan … 73.83 … 75.31

29 Jan … 73.71 … 75.17

Average … 74.37 … 76.04

Average US dollar exchange rates in Meticais

Dollar … buy … sale
02 Feb … 60.19 … 61.39

01 Feb … 60.06 … 61.22

31 Jan … 59.85 … 61.02

30 Jan … 59.61 … 60.8