Mozambique Currency Guide
With numerous pristine beaches and a warm, favorable climate, Mozambique can offer great experiences to someone eager to explore her interior. Key bits of information can help you properly prepare to enjoy time in Mozambique. As an outsider, you may exchange foreign currency for the Metical, which is the national currency of Mozambique; the plural form of Metical is meticais. The nation’s central bank, Banco de Mocambique, provides information on legitimate currency exchange centers, the majority of which are located in cities of the southern provinces of the nation. The Metical is sub-divided into coin units of 1/100, wherein 1 centavo equals 1 cent. Paper meticais are issued in units of 20, 50, 100, 200 and 500 bills, and a 1000 metacais bill is rarely released for circulation.
Following five centuries under Portuguese control, Mozambique gained independence in the summer of 1975, however, a lengthy civil war hindered economic prosperity. In 1990, the strife ceased, and a democratic governing body was formally established for the Republic of Mozambique. This event marked the beginning of a promising period of steady economic expansion that continued until the mid-2000’s. Currently, the United States Dollar, the British Pounds Sterling and the South African Rand are the three currencies most commonly converted for Mozambique’s Metical. Please note that extremely high rates of commission are charged on traveler’s checks in the Metical. In recent years, Mozambique’s economy has faced staggering rates of inflation. Today, one United States Dollar is equivalent to around 28 meticais.