Mozambican metical - wikipedia Mozambican metical Mozambican metical Metical moçambicano ( Portuguese ) ISO 4217 Code MZN Denominations Subunit 1 / 100 centavo Symbol MT 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. The metical ( 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 ), a unit of weight and an alternative name for the gold dinar coin that was used throughout much of Africa until the 19th century. Contents 1 History 1.1 First metical ( MZM ) 1.2 Second metical ( MZN ) 2 Coins 2.1 First metical 2.2 Second metical 3 Banknotes 3.1 First metical 3.2 Second metical 4 See also 5 References 6 External links History First metical ( MZM ) The metical ( MZM ) replaced the escudo at par on 16 June 1980. 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 ) 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, 21⁄2, 5, 10 and 20 meticais. The 50 centavos, 21⁄2 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. ( 1 ) 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. 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. Banknotes of the Mozambican metical ( 16.06. 2006 `` Samora Machel '' Issue ) Image Value Obverse Reverse Watermark ( 2 ) 20 meticais Samora Moisés Machel Rhinoceros Samora Moisés Machel ( 3 ) 50 meticais Samora Moisés Machel Kudus Samora Moisés Machel ( 4 ) 100 meticais Samora Moisés Machel Giraffes Samora Moisés Machel ( 5 ) 200 meticais Samora Moisés Machel Lions Samora Moisés Machel ( 6 ) 500 meticais Samora Moisés Machel Buffaloes Samora Moisés Machel ( 7 ) 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 ( 8 ) 20 meticais Samora Moisés Machel Rhinoceros Samora Moisés Machel ( 9 ) 50 meticais Samora Moisés Machel Kudus Samora Moisés Machel ( 10 ) 100 meticais Samora Moisés Machel Giraffes Samora Moisés Machel ( 11 ) 200 meticais Samora Moisés Machel Lions Samora Moisés Machel ( 12 ) 500 meticais Samora Moisés Machel Buffaloes Samora Moisés Machel ( 13 ) 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 : 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 Jump up ^ `` Metical '' in Dicionário da Língua Portuguesa com Acordo Ortográfico. Porto Editora, Porto, 2003 - 2015. Accessed 1 April 2015. ( in Portuguese ) Jump up ^ 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 Jump up ^ Linzmayer, Owen ( 2012 ). `` Mozambique ''. The Banknote Book. San Francisco, California : www.BanknoteNews.com. Jump up ^ 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. Jump up ^ `` Archived copy ''. Archived from the original on 2007 - 03 - 14. Retrieved 2006 - 06 - 28. Jump up ^ Mozambique new 20 -, 50 -, and 100 - meticais notes confirmed BanknoteNews.com. Retrieved 2012 - 03 - 10. Jump up ^ Mozambique new 200 - meticais note confirmed BanknoteNews.com. Retrieved 2012 - 06 - 30. Jump up ^ Mozambique new 500 - meticais note confirmed BanknoteNews.com. Retrieved 2012 - 06 - 30. Jump up ^ 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 ) ( in 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 Economy of Mozambique Currency : Metical Communications Banking Communications History of Trade Transportation Industries : Agriculture Tourism Currencies of Africa North Algerian dinar Egyptian pound Euro Plazas de soberanía Libyan dinar Mauritanian ouguiya Moroccan dirham Sahrawi peseta ( unrecognized ) Sudanese pound Tunisian dinar Central Angolan kwanza Burundian franc Central African CFA franc Cameroon Central African Republic Chad Republic of the Congo Equatorial Guinea Gabon Congolese franc Rwandan franc East Comorian franc Djiboutian franc Eritrean nakfa Ethiopian birr Kenyan shilling Seychellois rupee Somali shilling Somaliland shilling ( unrecognized ) South Sudanese pound Tanzanian shilling Ugandan shilling South Botswana pula British pound sterling Saint Helena, Ascension and Tristan da Cunha Zimbabwe Euro French Southern and Antarctic Lands Mayotte Réunion Zimbabwe Lesotho loti Malagasy ariary Malawian kwacha Mauritian rupee Mozambican metical Namibian dollar Saint Helena pound South African rand Lesotho Namibia Swaziland Zimbabwe Swazi lilangeni U.S. dollar Zimbabwe Zambian kwacha Zimbabwean dollar ( defunct due to hyperinflation since April 2009 ) Zimbabwean bond coins ( since 18 December 2014 - denominated in U.S. Cents ) Zimbabwean bond notes ( since 28 November 2016 - denominated in U.S. Dollars ) West Cape Verdean escudo Euro Canary Islands Madeira Gambian dalasi Ghanaian cedi Guinean franc Liberian dollar Nigerian naira São Tomé and Príncipe dobra Sierra Leonean leone West African CFA franc Benin Burkina Faso Guinea - Bissau Ivory Coast Mali Niger Senegal Togo Retrieved from `` https://en.wikipedia.org/w/index.php?title=Mozambican_metical&oldid=824432224 '' Categories : ISO 4217 Currencies of Africa Circulating currencies Currencies of Mozambique Currency introduced in 1980 Currencies of the Commonwealth of Nations Hidden categories : Articles with Portuguese - language external links Articles containing Portuguese - language text Wikipedia articles needing clarification from November 2016 Articles containing Arabic - language text Articles with German - language external links Talk Contents About Wikipedia Azərbaycanca Bân - lâm - gú Беларуская Беларуская ( тарашкевіца ) ‎ Bosanski Català Čeština Dansk Deutsch Ελληνικά Español Esperanto فارسی Français Galego 한국어 Hrvatski বিষ্ণুপ্রিয়া মণিপুরী Bahasa Indonesia Italiano ქართული Latviešu Lietuvių Magyar मराठी Bahasa Melayu Mirandés Nederlands 日本 語 Norsk Polski Português Русский Српски / srpski Suomi Svenska Tagalog Тоҷикӣ Türkçe Українська Yorùbá 中文 34 more Edit links This page was last edited on 7 February 2018, at 08 : 37. 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Question: when did the currencies of mozambique first come in circulation
Answer: 16 June 1980