Mozambique: Workers demand higher wages on May Day
Metical stabilises against Euro, drops slightly against US dollar
12:25 CAT | 10 Sep 2018
The Mozambican currency stabilised last week against the Euro, according to the average daily exchange rates released by the Bank of Mozambique
Over the last week, the Euro was bought in Mozambique at an average price of 68.99 meticais, six metical cents less than the previous week, while sale was made at 70.36 meticais on average, seven metical cents less.
The week was shorter due to the Friday Victory Day public holiday celebrating the signing of the Lusaka Accords.
Since the week of August 20, when the metical posted a 12-month high against the European currency, the trend has reversed and the Euro has increased in value by more than three meticais, both on the buying and selling sides.
The US dollar last week was bought on average form 59.52 meticais, 34 metical cents more than in the previous week, while sale took place at 60.70 meticais, also 34 metical cents more.
The US currency is used to calculate reference exchange rates for all other currencies in Mozambique.
Metical average reference exchange rates against the Euro
Euro … buy … sale
07 Sep ….. Holiday
06 Sep ….. 69.32 ….. 70.7
05 Sep ….. 68.9 ….. 70.25
04 Sep ….. 68.78 ….. 70.15
03 Sep ….. 68.96 ….. 70.34
Average ….. 68.99 ….. 70.36
Metical average exchange rates against the US dollar
USD … buy … sale
07 Sep ….. Holiday
06 Sep ….. 59.62 ….. 60.81
05 Sep ….. 59.54 ….. 60.7
04 Sep ….. 59.48 ….. 60.67
03 Sep ….. 59.44 ….. 60.63
Average ….. 59.52 ….. 60.70
Source: Bank of Mozambique
Source: Lusa
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