Mozambique: Govt expects 40% increase in foreign direct investment this year
Mozambican currency depreciates against the Euro for fourth consecutive week
11:59 CAT | 25 Jul 2017
Mozambican currency the metical continued to fall against the Euro last week, slipping below 70 both buying and selling last week.
Last week average Euro price was 69.66 Meticais, 1.05 Meticais more than the previous week, selling for 70.98 meticais for each Euro, also 1.05 meticais more expensive, according to the weekly averages calculated by Lusa from Bank of Mozambique figures.
The average purchase price for the Euro varied between 68.95 and 70.51 Meticais, while the asking price ranged between 70.27 and 71.84 Meticais.
This was the fourth consecutive week in which the Metical depreciated against the Euro, losing altogether 2.91 Meticais for each unit of the European currency.
Nevertheless, the Mozambican currency has appreciated overall since September 2016 when it bottomed at 88 Meticais to the Euro.
Metical – Euro average reference exchange rates
Day …… buy …….. for sale
21 July …… 70.51 …….. 71.84
20 July …… 69.67 …….. 70.98
19 July …… 69.56 …….. 70.91
18 July …… 69.63 …….. 70.89
17 July …… 68.95 …….. 70.27
Average ……. 69.66 …….. 70.98
Source: Banco de Moçambique
Source: Lusa
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