Metical


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Metical

The currency of Mozambique. It was introduced in 1980, replacing the Mozambican escudo. It suffered from hyperinflation for most of its history and was, for a time, the least valuable currency in the world. Inflation has slowed since the introduction of the second metical in 2006, but has remained over 10%.
References in periodicals archive ?
This reflected the effects of determined monetary tightening in 2011, a good harvest and attendant increase in food supply, the relative stability of the metical in relation to leading currencies, favorable developments in international prices, and stable administered prices.
The new service will cost around 1 metical per minute.
According to the AfDB, the funds will be drawn in multiple African currencies that include the Ghanaian Cedi, Nigerian Naira, the Kenyan Shilling, the Zambian Kwacha, the Mozambican Metical and the Tanzanian Shilling.
In a press statement released on December 12, 2012, AfDB said the line of credit will be drawn in multiple African currencies including the Ghanaian Cedi, Nigerian Naira, the Kenyan Shilling, the Zambian Kwacha, the Mozambican Metical and the Tanzanian Shilling.
The amount will be drawn in multiple African currencies including: Nigerian Naira ( NGN ), Kenyan Shilling ( KES ), Zambian Kwacha ( ZMK ), Ghanaian Cedi ( GHS ), Mozambique Metical ( MZN ) and Tanzanian Shilling ( TZS ).