Metical falls against Euro, US dollar

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Metical falls against Euro, US dollar

5:21 CAT | 24 Sep 2018

File photo: DW

The Mozambican Metical depreciated against the Euro and the US dollar last week, losing more than one metical to the European currency, according to the average daily exchange rates released by the central bank and followed by Lusa.

Last week, the Euro was bought in the country at an average of 70.40 meticais, 1.09 meticais more expensive than in the previous week, while the sale was made on average at 71.80 meticais, 1.11 meticais more expensive.

Since the week of August 20, when the Metical appreciated to a 12-month high against the European currency, the trend has been reversed and the Euro increased by more than 4.5 meticais, for both buyers and sellers.

Meanwhile, also last week, the US dollar was bought on average at 60.14 meticais, 47 cents of the metical more expensive than in the previous week. The sale was made on average at 61.34 meticais per US dollar, 48 cents of the metical more expensive.

The US dollar is the currency used as the basis for calculating the reference exchange rates for the other currencies in Mozambique.

Meticais average reference exchange rates against the Euro

Euro..buy..sell

21 Sep ….. 71.01 ….. 72.42

20 Sep ….. 70.64 ….. 72.04

19 Sep ….. 70.28 ….. 71.68

18 Sep….. 70.22 ….. 71.63

17 Sep ….. 69.84 ….. 71.23

average ….. 70.40 ….. 71.80

Meticais average exchange rates against the US dollar

USD..buy..sell

21 Sep ….. 60.31 ….. 61.52