Mozambique The Mozambican Metical (MZN) is the official currency of Mozambique, issued by the Bank of Mozambique. The current metical (MZN) was introduced in 2006, replacing the previous currency at a rate of 1 new metical = 1,000 old meticais. The currency is subdivided into 100 centavos, though smaller denominations are rarely used due to inflation. Mozambique’s economy relies heavily on agriculture, natural gas, and mineral resources, but currency depreciation and inflation have been challenges. The metical remains one of the weaker African currencies, often subject to fluctuations due to global commodity prices and foreign investment trends.
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Last updated: Exchange rates here are informational, reflecting mid-market rates which fluctuate regularly. For an estimation of the rates offered by Instarem, please check our currency conversion calculator at the time of transfer.
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Disclaimer: All information in this article is provided for general knowledge and educational use only. It should not be considered legal, tax, or financial advice. We recommend contacting a licensed expert in your area for assistance with specific concerns.
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