Mozambique

Mozambique, a country located in Southeast Africa, uses the Mozambican metical (MT) as its official currency. The metical was first introduced in 1980, replacing the escudo which had been in circulation since 1914. The metical is divided into 100 centavos.

The central bank of Mozambique, the Bank of Mozambique, is responsible for issuing and regulating the metical. The bank has the authority to set monetary policy and to ensure the stability of the currency.

The value of the metical has fluctuated significantly over the years, due in part to economic and political instability in the country. In recent years, the metical has lost value against the US dollar and other major currencies. As of 2021, the exchange rate is approximately 1 US dollar to 82 meticais.

The metical is used in all transactions within Mozambique and is accepted as legal tender. The currency is available in both coins and banknotes, with denominations ranging from 1 to 1000 meticais. The design of the banknotes includes images of historical figures, landmarks, and cultural symbols of Mozambique.

In addition to the metical, the US dollar and the South African rand are also widely accepted in Mozambique, particularly in tourist areas. It is not uncommon for prices to be quoted in multiple currencies, and some businesses may prefer to receive payment in a foreign currency.