Mozambican metical

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Mozambican metical
Metical moçambicano (Portuguese)
ISO 4217 codeMZN
Central bankBanco de Moçambique
 Websitewww.bancomoc.mz
User(s) Mozambique
Inflation11.2%
 SourceThe World Factbook, 2008 est.
Subunit
 1/100centavo
SymbolMT
Coins

50 centavos, 1, 2, 5, 10 meticais

obsolete: 1, 5, 10, 20 centavos
Banknotes

20, 50, 100, 200, 500 meticais

rarely used 1000 meticais
 
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Mozambican metical
Metical moçambicano (Portuguese)
ISO 4217 codeMZN
Central bankBanco de Moçambique
 Websitewww.bancomoc.mz
User(s) Mozambique
Inflation11.2%
 SourceThe World Factbook, 2008 est.
Subunit
 1/100centavo
SymbolMT
Coins

50 centavos, 1, 2, 5, 10 meticais

obsolete: 1, 5, 10, 20 centavos
Banknotes

20, 50, 100, 200, 500 meticais

rarely used 1000 meticais

The metical (plural: meticais) is the currency of Mozambique, abbreviated with the symbol MZN or MTn. It is nominally divided into 100 centavos.

History[edit]

First metical (MZM)[edit]

The metical (MZM) replaced the escudo at par on 16 June 1980.[1][2] It was divided into 100 centavos. The metical underwent severe inflation. After the revaluation of the Romanian leu, the metical briefly became the least valued currency unit, at a value of about 24,500 meticais per USD, until the Zimbabwean dollar took the title in late August 2005.

Second metical (MZN)[edit]

On July 1, 2006, Mozambique redenominated the metical at a rate of 1000:1. The new ISO 4217 code is MZN. New coins and banknotes were introduced on July 1, 2006, and the transitional period during which both old and new meticais could be used lasted until December 31, 2006. During the conversion, the new currency was locally abbreviated as MTn, but has since largely returned to MT.

Old meticais were redeemed by the Bank of Mozambique for a period of six years, until December 31, 2012.

Coins[edit]

First metical[edit]

In 1980, coins were introduced in denominations of 50 centavos, 1, 2½, 5, 10 and 20 meticais. The 50 centavos, 2½ and 5 meticais were minted in aluminium, with the 1 metical in brass and the 10 and 20 meticais in cupro-nickel. In 1986, aluminium 1, 10, 20 and 50 meticais were introduced. A new coinage issued in 1994 was composed of 1, 5, 10, 20, 50, 100, 500 and 1000 meticais, with the lower four denominations in brass clad steel and the higher denominations in nickel clad steel. 5000 meticais coins were introduced in 1998, followed by 10,000 meticais in 2003.

Second metical[edit]

From July 1, 2006, coins were issued in denominations of 1, 5, 10, 20, 50 centavos and 1, 2, 5, 10 meticais. [2]

Coins of the Mozambican metical (2006 "Banco de Moçambique" series)
ValueTechnical parametersDescriptionDate of issue
DiameterMassCompositionEdgeObverseReverse
1 centavo15 mm2 gramsCopper-plated steelReededRhinocerosLogo of the Banco de Moçambique2006
5 centavos19 mm2.3 gramsCopper-plated steelReededLeopardLogo of the Banco de Moçambique2006
10 centavos17 mm3.06 gramsBrass-plated steelReededFarm tractorLogo of the Banco de Moçambique2006
20 centavos19.5 mm4.1 gramsBrass-plated steelReededCotton plantLogo of the Banco de Moçambique2006
50 centavos23 mm5.74 gramsBrass-plated steelReededKingfisher birdLogo of the Banco de Moçambique2006
1 metical21 mm5.3 gramsNickel-plated steelPlain (seven-sided sections)Female student (representing the allegory of education)Logo of the Banco de Moçambique2006
2 meticais24 mm6 gramsNickel-plated steelSegmented reedingFishLogo of the Banco de Moçambique2006
5 meticais27 mm6.5 gramsNickel-plated steelReededXylophoneLogo of the Banco de Moçambique2006
10 meticais24.92 mm7.51 gramsBi-metallic coin consisting of a Nickel-plated steel center plug with a brass outer ringReededHeadquarters of the Banco de MoçambiqueLogo of the Banco de Moçambique2006

Banknotes[edit]

First metical[edit]

The First Metical had three issues of notes as follows: i. In 1980 (16 June 1980), notes were introduced in denominations of 50, 100, 500 and 1,000 meticais. ii The same notes and denominations were reissued in 1983 (16 June 1983) with the new state logo, 5,000 meticais notes were introduced in 1989 (3 February 1989). iii. In 1991 (16 June 1991) 500, 1,000, 5,000, and 10,000 notes were issued followed by 50,000 and 100,000 meticais in 1993 (16 June 1993), 20,000 meticais in 1999 (16 June 1999) and 200,000 and 500,000 meticais in 2003 (16 June 2003).

Second metical[edit]

From July 1, 2006, new banknotes were issued in denominations of 20, 50, 100, 200, 500, and 1000 meticais.[3] On October 1, 2011, Banco de Moçambique has issued a new family of banknotes that are similar to the 2006 series, but with enhanced security features. The three smaller denominations are now printed on polymer while the higher denominations remain printed on paper. The higher denominated metical banknotes are printed by De La Rue.[4][5][6][7]

Banknotes of the Mozambican metical (16.06.2006 "Samora Machel" Issue)
ImageValueObverseReverseWatermark
[3]20 meticaisSamora Moisés MachelRhinocerosSamora Moisés Machel
[4]50 meticaisSamora Moisés MachelKudusSamora Moisés Machel
[5]100 meticaisSamora Moisés MachelGiraffesSamora Moisés Machel
[6]200 meticaisSamora Moisés MachelLionsSamora Moisés Machel
[7]500 meticaisSamora Moisés MachelBuffaloesSamora Moisés Machel
[8]1000 meticaisSamora Moisés MachelElephantsSamora Moisés Machel
Banknotes of the Mozambican metical (16.06.2011 "Samora Machel" Issue)
ImageValueObverseReverseWatermark
[9]20 meticaisSamora Moisés MachelRhinocerosSamora Moisés Machel
[10]50 meticaisSamora Moisés MachelKudusSamora Moisés Machel
[11]100 meticaisSamora Moisés MachelGiraffesSamora Moisés Machel
[12]200 meticaisSamora Moisés MachelLionsSamora Moisés Machel
[13]500 meticaisSamora Moisés MachelBuffaloesSamora Moisés Machel
[14]1000 meticaisSamora Moisés MachelElephantsSamora Moisés Machel
Current MZN exchange rates
From Google Finance:AUD CAD CHF EUR GBP HKD JPY USD ZAR
From Yahoo! Finance:AUD CAD CHF EUR GBP HKD JPY USD ZAR
From XE.com:AUD CAD CHF EUR GBP HKD JPY USD ZAR
From OANDA.com:AUD CAD CHF EUR GBP HKD JPY USD ZAR
From fxtop.com:AUD CAD CHF EUR GBP HKD JPY USD ZAR

See also[edit]

References[edit]

  1. ^ Linzmayer, Owen (2012). "Mozambique". The Banknote Book. San Francisco, CA: www.BanknoteNews.com. 
  2. ^ http://pjsymes.com.au/articles/Mozambique_1.htm The Banknotes of Mozambique; Independence Issues – 1975 to 1989 Peter Symes (www.pjsymes.com.au). Retrieved on 2014-07-07.
  3. ^ [1]
  4. ^ Mozambique new 20-, 50-, and 100-meticais notes confirmed BanknoteNews.com. Retrieved 2012-03-10.
  5. ^ Mozambique new 200-meticais note confirmed BanknoteNews.com. Retrieved 2012-06-30.
  6. ^ Mozambique new 500-meticais note confirmed BanknoteNews.com. Retrieved 2012-06-30.
  7. ^ Mozambique new 1,000-meticais note confirmed BanknoteNews.com. Retrieved 2012-06-30.

External links[edit]

First metical
Preceded by:
Mozambican escudo
Ratio: at par
Currency of Mozambique
1980 – June 30, 2006
Succeeded by:
Second metical
Reason: inflation
Ratio: 1 second metical = 1000 first meticais
Second metical
Preceded by:
First metical
Reason: inflation
Ratio: 1 second metical = 1000 old meticais
Currency of Mozambique
July 1, 2006 –
Succeeded by:
Current