Mozambican Metical (MZN)
"Metical" derives from the Arabic "mithqal," a historic unit of weight once used in East African gold trade — a nod to the region's centuries-old trading history along the Indian Ocean coast. The currency was introduced in 1980 after independence from Portugal, and redenominated in 2006 to simplify pricing after years of inflation.
MZN ⇄ USD Converter
History
Mozambique introduced the metical in 1980, five years after independence from Portugal, replacing the Mozambican escudo. Years of civil war and economic disruption drove significant inflation, prompting the Bank of Mozambique to redenominate the currency in 2006 — replacing 1,000 old metical with 1 new metical — to make everyday transactions more manageable and restore confidence.
Denominations
Mozambican metical banknotes currently circulate in these denominations:
- 20, 50, 100 meticais — smaller everyday notes
- 200, 500, 1,000 meticais — higher-value notes
Coins are issued in 1, 2, 5, 10, 20, and 50 centavos, plus 1, 2, 5, and 10 meticais.
Frequently Asked Questions
What is the currency symbol for the metical?
It's commonly abbreviated MT. Its ISO 4217 currency code is MZN.
Why was the metical redenominated in 2006?
Years of inflation had left prices with unwieldy numbers of zeros. The Bank of Mozambique replaced 1,000 old metical with 1 new metical in 2006 to simplify everyday pricing.
Where does the name "metical" come from?
It comes from the Arabic "mithqal," a historic unit of weight used in East African gold and commodity trade for centuries before Portuguese colonization.
Where can I see rates for other African currencies?
Check the full currency directory on the African Currencies homepage, which covers all 54 African countries.