Currency Information on Mozambican Metical
Currency Information on Mozambican Metical - MZN—Mozambican metical – MT
The official Mozambique currency subdivides into 100 centavos. The first metical was introduced in 1980, replacing the escudo at a 1:1 ratio.
The first metical suffered from immense inflation and was, at one point, the least valued currency in circulation. The Mozambican metical was revalued in 2006, on a 1000:1 ratio, introducing the second and current metical.
1, 5, 10, 20 centavos coins have become obsolete, though 50 centavos, 1, 2, 5 and 10 meticais coins are still in circulation. 20, 50, 100, 200, 500 meticais banknotes are frequently used, though the 1000 meticais note is not frequently used.