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 ?
For one to import such goods in bigger quantities, one had to have an extra 20 to 100 Meticais for Agora (Mozambican policemen) as a bribe.
Once the savings in Meticais had been entered in the books at the value of the initial "transfers," their purchasing power could only have been maintained through the application by the Ministry of Labor of an interest rate at least equal to the internal inflation rate, between the date of the amount's "transfer" and its withdrawal.
Saide said, the entire amount of Health Ministry funds audited referring to the initial 9 months of 2015 was 5.64 billion meticais, and we found a reduction in the number of purchases made without tenders, and the accounts are well organized
As of March 2007, the floating exchange rate was approximately 26 meticais per dollar.
Total public expenditure is envisaged at 2,514bn meticais (officially valued at $464m).
The loans will be granted to the eligible companies in the local currency, meticais, or in euros, or in US dollars.
On top of that, Mozambican firms, for instance, cannot buy the application file in meticais but have to pay for it in ecus, which are not easy for African companies to acquire.
Fernandes said, Execution of tax and customs collection up to this past 20 December (or 11 days before the end of 2013), rose to 124.4 billion meticais (nearly US$4.16 billion).
The Mozambican tax authority owes about 8.5 billion meticais (about 283 million US dollars) in rebates to taxpayers.
The amount that taxpayers owe the state in overdue taxes is rather more than four billion meticais. Thus in net terms, the balance is a state debt of 4.5 billion meticais.
As per the reports, the Committee for the Facilitation of Agriculture between Mozambique and South Africa (COFAMOSA) is seeking 861 million meticais (about 31 million US dollars) to implement the project to irrigate 10,000 hectares of agricultural land in the district of Moamba, in the southern Mozambican province of Maputo.