The exchange rate of the Mozambican currency stabilised last week, after weeks of devaluation against the Euro and the US dollar, according to central bank benchmark rates, followed by Lusa.

The metical gained a few cents against the Euro, thanks to the devaluation of the European currency against the dollar.

In average terms, in the last week, the Euro was bought in the country at 75.99 meticais, four cents of the Metical cheaper than the previous week.

The sale was made at an average of 77.49 meticais per Euro,  five cents of the Metical less than in the previous week.

The daily average purchase price of the Euro varied between 75.78 and 76.23 meticais, while the asking price ranged between 77.06 and 77.73 meticais.

The US dollar was bought in the country at 61.59 meticais, two cents of the metical more expensive than in than the previous week.

The sale was made at 62.80 meticais per US dollar, one cent of the metical more expensive than in the previous week.

The daily average purchase price of the US dollar varied between 61.55 and 61.61 meticais, while the asking price ranged between 62.76 and 62.82 meticais.

The US dollar is the currency used in Mozambique as the basis for calculating the reference exchange rates for all other currencies.

Metical average reference exchange rates against the Euro

Euro … buy … sale

16 / mar ….. 75.78 ….. 77.28

15 / mar ….. 76.12 ….. 77.63

14 / mar ….. 76.23 ….. 77.73

13 / mar ….. 76.02 ….. 77.51

12 / mar ….. 75.81 ….. 77.28

mean ….. 75.99 ….. 77.49

Metical average exchange rates against the US dollar

USD … buy … sale

16 / mar ….. 61.55 ….. 62.77

15 Mar ….. 61.6 ….. 62.82

14 / mar ….. 61.61 ….. 62.82

13 / mar ….. 61.6 ….. 62.81

12 / mar ….. 61.57 ….. 62.76

average ….. 61.59 ….. 62.80

Source: Banco de Moçambique

Reference Source: Lusa – Club of Mozambique