Mozambique central bank cuts key rate to 9.75% – Watch
Metical sees marginal devaluation against dollar in last week
1:12 CAT | 11 Feb 2019
The Metical, the Mozambican currency, depreciated marginally against the US dollar last week, according to daily rates released by the central bank and followed by Lusa.
Although the depreciation of the local currency was slight, the US currency continued to follow a price trend that has been going on since August 2018, when it cost 57 meticais, according to the records of financial company Euronet.
The last time in the last 12 months the US dollar had risen above 62 meticais was in March 2018, and again the week before last.
In a shortened trading week, due to Monday’s public holiday, the US dollar was bought in Mozambique at an average of 61.59 meticais and sold at 62.82, up 22 metical cents.
Last week in Mozambique, the Euro was being bought at an average of 70.05 meticais and sold at 71.44, about 20 metical cents cheaper.
Metical average reference exchange rates against the Euro
Euro ….. buy …. sell
08 Feb ….. 69.95 ….. 71.34
07 Feb ….. 69.95 ….. 71.33
06 Feb ….. 70.09 ….. 71.48
05 Feb ….. 70.22 ….. 71.62
04 Feb ….. (public holiday)
Average ….. 70.05 ….. 71.44
Metical average exchange rates against the US dollar
USD ….. buy …… sell
08 Feb ….. 61.68 ….. 62.91
07 Feb ….. 61.64 ….. 62.86
06 Feb ….. 61.56 ….. 62.78
05 Feb ….. 61.49 ….. 62.72
04 Feb ….. (public holiday)
Average ….. 61.59 ….. 62.82
Source: Bank of Mozambique
Source: Lusa
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