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The metical (/ ˈ m ɛ t ɪ ˌ k æ l /; [2] plural: meticais) is the currency of Mozambique, abbreviated with the symbol MZN or MT.It is nominally divided into 100 centavos. The name metical comes from Arabic مثقال (), [3] a unit of weight and an alternative name for the gold dinar coin that was used throughout much of Africa until the 19th century.
Initially, Mozambique had its own paper money but used Portuguese coins. Only in 1935 were coins issued specifically for use in Mozambique. In 1975, the metica was proposed as a replacement for the escudo, but it was not used. The escudo was replaced by the metical in 1980 at par.
Mozambique's official currency is the metical (as of October 2023, US$1 is roughly equivalent to 64 meticals) The U.S. dollar, South African rand, and the euro are widely accepted and used in business transactions. The minimum legal salary is around US$60 per month. Mozambique is a member of the Southern African Development Community (SADC). [18]
Colour key and notes Indicates that a given currency is pegged to another currency (details) Italics indicates a state or territory with a low level of international recognition State or territory Currency Symbol [D] or Abbrev. ISO code Fractional unit Number to basic Abkhazia Abkhazian apsar [E] аҧ (none) (none) (none) Russian ruble ₽ RUB Kopeck 100 Afghanistan Afghan afghani ؋ AFN ...
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The metica (plural meticas) was a proposed currency for Mozambique. It was divided into 100 centimos. Coins were produced dated 1975 and banknotes dated 1976. However, these were not put into circulation and the escudo continued to circulate until 1980, when the metical was introduced. [citation needed] Africa portal; Money portal; Numismatics ...
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Mozambique Switzerland Solomon Islands South Sudan Tunisia Zambia ; Pegged exchange rate within horizontal bands (1) Morocco ; Other managed arrangement (12) Kuwait Syria Liberia Myanmar Sierra Leone Zimbabwe Kenya Haiti Kyrgyzstan Tonga