Metical definitions
| Word backwards | lacitem |
|---|---|
| Part of speech | Noun |
| Syllabic division | Me-ti-cal |
| Plural | The plural of the word metical is meticals. |
| Total letters | 7 |
| Vogais (3) | e,i,a |
| Consonants (4) | m,t,c,l |
Metical is the official currency of Mozambique, a country located in southeastern Africa. The currency is abbreviated as MZN and is further subdivided into 100 centavos. The metical has gone through several changes in value and denomination over the years due to economic fluctuations in the country.
History of the Metical
The metical was introduced in 1980 to replace the Mozambican escudo at a rate of 1 metical to 1,000 escudos. The currency underwent multiple redenominations in the following decades due to hyperinflation and economic instability in the country. The most recent change occurred in 2006 when the "new" metical was introduced at a value of 1,000 old meticais to 1 new metical.
Denominations and Symbols
The metical is available in both coin and banknote form, with coins issued in denominations of 1, 2, 5, 10, 20, and 50 meticais, and banknotes in denominations of 20, 50, 100, 200, 500, and 1,000 meticais. The currency is symbolized by the letter "MT" followed by the amount.
Exchange Rate and Stability
The metical has experienced fluctuations in value over the years, with its exchange rate heavily influenced by external factors such as global economic conditions, political stability, and natural disasters. The currency has struggled to maintain stability, leading to challenges for businesses and individuals in Mozambique.
Foreign investment plays a crucial role in supporting the metical and the country's economy. The government continually works towards improving economic policies and attracting foreign investors to boost the value of the currency.
Overall, the metical remains an essential aspect of Mozambique's economic landscape, and its stability and value will continue to be monitored closely to ensure the country's financial well-being.
centavos denominations Foreign investment newMetical Examples
- I exchanged my US dollars for Mozambican metical at the airport.
- The price of the souvenir was displayed in metical and I had to convert it to my currency.
- She budgeted her trip in metical to ensure she wouldn't overspend.
- The metical is the official currency of Mozambique.
- The restaurant accepted payment in both US dollars and metical.
- The metical's exchange rate had fluctuated over the past few months.
- He converted his metical to euros before leaving Mozambique.
- I need to withdraw some metical from the ATM for my taxi fare.
- The hotel bill was stated in metical, so I had to calculate the total amount in my currency.
- The price of the fruit at the market was surprisingly low in metical.