Mozambique: Economy shrank almost 4%% in the first quarter, 6% in Q4 of last year - INE
Metical loses ground against Euro and US dollar
1:26 CAT | 12 Mar 2018
The Mozambican currency lost ground to both the Euro and the US dollar last week, according to central bank average exchange rates summarised by Lusa.
The US dollar, the currency unit used as the basis for calculating the reference exchange rates for all other currencies in Mozambique, has risen in value by about three meticais since the third week of January.
Over the course of last week, the US dollar was bought in the country at 61.56 meticais, 40 metical cents more than in the previous week. Sale transaction took place at 62.78 meticais per US dollar, 40 metical cents more.
The daily average purchase price of the US dollar varied between 61.41 and 61.62 meticais, while the sale price ranged between 62.64 and 62.84 meticais.
The Euro rose one metical in value last week, according to Bank of Mozambique data consulted by Lusa.
In average terms, the Euro was purchase at 76.03 meticais in Mozambique last week, 99 metical cents more than in the previous week. Sale was made at 77.53 meticais per Euro, one metical more than the previous week.
The daily average purchase price of the Euro ranged between 75.55 and 76.53 meticais, while the asking price ranged between 77.06 and 78.05 meticais.
Metical average reference exchange rates against the Euro
Euro … buy … sale
09 March … 75.79 … 77.27
08 March … 76.32 … 77.79
07 March … 76.53 … 78.05
06 March … 75.98 … 77.5
05 March … 75.55 … 77.06
Average … 76.03 … 77.53
Metical average exchange rates against the US dollar
USD … buy … sale
09 March … 61.6 … 62.81
08 March … 61.62 … 62.81
07 March … 61.61 … 62.84
06 March … 61.58 … 62.81
05 March … 61.41 … 62.64
Average … 61.56 … 62.78
Source: Banco de Moçambique
Source: Lusa
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