Mozambican metical

The metical (/ˈmɛtɪˌkæl/;[1] 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 (mithqāl),[2] a unit of weight and an alternative name for the gold dinar coin that was used throughout much of Africa until the 19th century.[3]

Mozambican metical
Metical moçambicano (Portuguese)
ISO 4217
Code	MZN
Denominations
Subunit
1/100	centavo
Symbol	MT, MTn
Banknotes
Freq. used	20, 50, 100, 200, 500 meticais
Rarely used	1000 meticais
Coins	50 centavos, 1, 2, 5, 10 meticais obsolete: 1, 5, 10, 20 centavos
Demographics
User(s)	Mozambique
Issuance
Central bank	Banco de Moçambique
Website	www.bancomoc.mz
Valuation
Inflation	2.3%
Source	The World Factbook, CIA (USA), 2014 est.

History

First metical (MZM)

The metical (MZM) replaced the escudo at par on 16 June 1980.[4][5] It was divided into 100 centavos. The metical underwent severe inflation. After the revaluation of the Romanian leu on 1 July 2005, 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)

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

First metical

In 1980, coins were introduced in denominations of 50 centavos, 1, ​2 ¹⁄₂, 5, 10 and 20 meticais. The 50 centavos, ​2 ¹⁄₂ 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

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

Coins of the Mozambican metical (2006 "Banco de Moçambique" series)
Value	Technical parameters				Description		Date of issue
	Diameter	Mass	Composition	Edge	Obverse	Reverse
1 centavo	15 mm	2 grams	Copper-plated steel	Reeded	Rhinoceros	Logo of the Banco de Moçambique	2006
5 centavos	19 mm	2.3 grams	Copper-plated steel	Reeded	Leopard	Logo of the Banco de Moçambique	2006
10 centavos	17 mm	3.06 grams	Brass-plated steel	Reeded	Farm tractor	Logo of the Banco de Moçambique	2006
20 centavos	19.5 mm	4.1 grams	Brass-plated steel	Reeded	Cotton plant	Logo of the Banco de Moçambique	2006
50 centavos	23 mm	5.74 grams	Brass-plated steel	Reeded	Kingfisher bird	Logo of the Banco de Moçambique	2006
1 metical	21 mm	5.3 grams	Nickel-plated steel	Plain (seven-sided sections)	Female student (representing the allegory of education)	Logo of the Banco de Moçambique	2006
2 meticais	24 mm	6 grams	Nickel-plated steel	Segmented reeding	Fish	Logo of the Banco de Moçambique	2006
5 meticais	27 mm	6.5 grams	Nickel-plated steel	Reeded	Xylophone	Logo of the Banco de Moçambique	2006
10 meticais	24.92 mm	7.51 grams	Bi-metallic coin consisting of a Nickel-plated steel center plug with a brass outer ring	Reeded	Headquarters of the Banco de Moçambique	Logo of the Banco de Moçambique	2006

Banknotes

First metical

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

From July 1, 2006, new banknotes were issued in denominations of 20, 50, 100, 200, 500, and 1000 meticais.[6] 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.[7][8][9][10]

Banknotes of the Mozambican metical (16.06.2006 "Samora Machel" Issue)
Image	Value	Obverse	Reverse	Watermark
	20 meticais	Samora Moisés Machel	Rhinoceros	Samora Moisés Machel
	50 meticais	Samora Moisés Machel	Kudus	Samora Moisés Machel
	100 meticais	Samora Moisés Machel	Giraffes	Samora Moisés Machel
	200 meticais	Samora Moisés Machel	Lions	Samora Moisés Machel
	500 meticais	Samora Moisés Machel	Buffaloes	Samora Moisés Machel
	1000 meticais	Samora Moisés Machel	Elephants	Samora Moisés Machel

Banknotes of the Mozambican metical (16.06.2011 "Samora Machel" Issue)
Image	Value	Obverse	Reverse	Watermark
	20 meticais	Samora Moisés Machel	Rhinoceros	Samora Moisés Machel
	50 meticais	Samora Moisés Machel	Kudus	Samora Moisés Machel
	100 meticais	Samora Moisés Machel	Giraffes	Samora Moisés Machel
	200 meticais	Samora Moisés Machel	Lions	Samora Moisés Machel
	500 meticais	Samora Moisés Machel	Buffaloes	Samora Moisés Machel
	1000 meticais	Samora Moisés Machel	Elephants	Samora 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:	AUD CAD CHF EUR GBP HKD JPY USD ZAR
From fxtop.com:	AUD CAD CHF EUR GBP HKD JPY USD ZAR

See also

• Economy of Mozambique

References

1. "metical". Dictionary.com Unabridged. Random House. Retrieved December 9, 2019.
2. "Metical" in Dicionário da Língua Portuguesa com Acordo Ortográfico. Porto Editora, Porto, 2003-2015. Accessed 1 April 2015. (in Portuguese)
3. Johnson, Marion (1968), "The Nineteenth-Century Gold 'Mithqal' in West and North Africa", The Journal of African History, Cambridge University Press, 9 (4): 547–569, doi:10.1017/s0021853700009038, ISSN 0021-8537, JSTOR 180144
4. Linzmayer, Owen (2012). "Mozambique". The Banknote Book. San Francisco, California: www.BanknoteNews.com.
5. 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.
6. "Archived copy". Archived from the original on 2007-03-14. Retrieved 2006-06-28.CS1 maint: archived copy as title (link)
7. Mozambique new 20-, 50-, and 100-meticais notes confirmed BanknoteNews.com. Retrieved 2012-03-10.
8. Mozambique new 200-meticais note confirmed BanknoteNews.com. Retrieved 2012-06-30.
9. Mozambique new 500-meticais note confirmed BanknoteNews.com. Retrieved 2012-06-30.
10. Mozambique new 1,000-meticais note confirmed BanknoteNews.com. Retrieved 2012-06-30.

External links

• Banco de Moçambique - Bank of Mozambique (Portuguese)
• Historical banknotes of Mozambique (in English and German)

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