REPAIR disburses over USD16.8 million in emergency assistance to Mozambique in wake of cyclone Jude
Metical firm against the dollar, recovers a few cents against the Euro
12:49 CAT | 23 Oct 2017
The Mozambican currency unit recovered a few cents against the Euro last week and remained stable against the US dollar.
Last week’s average for buying the Euro was 71.42 meticais, 25 metical cents less than the previous week.
Sale was made at 72.76 meticais per Euro, a transaction metical 26 cents cheaper according to the weekly averages determined by Lusa from Bank of Mozambique figures.
The average purchase price of the Euro last week ranged between 71.26 and 71.56 meticais, while the asking price ranged between 72.63 and 72.90 meticais.
The exchange reached an all-year low of 65.83 and 67.14 meticais for each unit of European currency buying and selling respectively at the end of May, and has since risen to 73 and 74.38 meticais, buying and selling respectively on September 11, reversing the trend from then on.
Meanwhile, the Mozambican currency maintained the exchange rate practically unchanged in relation to the US dollar, the basis for calculating remaining currency exchange rates, with purchase averages at 60.60 and sale at 61.74.
Metical/Euro average reference exchange rates
Day … buy … sell
20 Oct … 71.44 … 72.8
19 Oct … 71.54 … 72.9
18 Oct … 71.26 … 72.6
17 Oct … 71.29 … 72.63
16 Oct … 71.56 … 72.88
Average … 71.42 … 72.76
Source: Banco de Moçambique
Source: Lusa
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