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Mozambican currency accentuates devaluation and trades above 70 meticais per Euro
3:02 CAT | 31 Jul 2017
Metical, the currency of Mozambique, continued its devaluation against the euro last week, with the European currency trading above 70 meticals in both buying and selling.
In average terms, last week the Euro was bought in the country at 70.73 meticais, 1.07 meticais more than the average of the previous week.
In turn, the sale was made at 72.09 meticais for each euro, a transaction 1.11 meticais more expensive, according to the weekly averages calculated by Lusa from Banco de Moçambique data.
The average purchase price of the euro ranged between 70.51 and 70.95 meticais, while the asking price ranged between 71.84 and 72.33 meticais.
This was the fifth consecutive week in which the metical depreciated against the euro, losing altogether around 4 meticals for each unit of the European currency.
Even so, the Mozambican currency follows a trend of appreciation after in September 2016 every euro having reached 88 meticais.
Meticais average reference exchange rates of the euro
Day … buy … sale
28 / Jul … 70,91 … 72,27
27 / Jul … 70,95 … 72,33
26 / Jul … 70,51 … 71,84
25 / Jul … 70,70 … 72,07
24 / Jul … 70,59 … 71,95
Average … 70,73 … 72,09
Source: Banco de Moçambique
Source: Lusa
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