Mozambican Metical (MZN)

The Mozambican Metical (MZN) is the official currency of Mozambique. Mozambique is a country located in Southeast Africa. The MZN is issued and used by the Bank of Mozambique, the country’s central bank.

The Mozambican Metical is divided into subunits. 1 Metical is divided into 100 centavos. However, in practice, centavos are rarely used, and prices are usually expressed in Meticals only.

The symbol for the Mozambican Metical is “MT”. For example, 100 Mozambican Meticals would be represented as “MT100”.

The value of the Mozambican Metical is determined by exchange rates. Mozambique has a foreign exchange market where you can freely buy and sell its currency. Therefore, the value of the MZN can fluctuate based on supply and demand in the foreign exchange market.

The Mozambican Metical is a legal tender in Mozambique and is widely used for trade, tourism, and other economic activities in the country. When shopping or purchasing services in Mozambique, it is generally expected to use the Mozambican Metical.

The exchange rates of the Mozambican Metical are determined in the international foreign exchange markets. These rates can vary based on Mozambique’s economic situation, balance of trade, interest rates, and other factors.

The value of the Mozambican Metical can fluctuate against other currencies. Therefore, it is important to keep track of the exchange rates of the Mozambican Metical when traveling internationally or engaging in international trade.

In conclusion, the Mozambican Metical (MZN) is the official currency of Mozambique. It is a legal tender in Mozambique and widely used for trade, tourism, and other economic activities in the country. Its value is determined by exchange rates and can fluctuate in the international foreign exchange markets.