MZM · MZM
Mozambican metical (MZM)
The Mozambican Metical (MZM) is the official currency of Mozambique. This page provides an overview of its history, denominations, and role in the economy.
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MZM · Mozambican metical
Mozambican Metical (MZM): Overview and History
The Mozambican Metical (MZM) is the official currency of Mozambique, a country located in southeastern Africa. The currency is issued and regulated by the Bank of Mozambique, the country's central bank. The name 'metical' is derived from the Arabic word 'mithqal,' a unit of weight used in the region historically. The metical has undergone several changes since its introduction, reflecting the country's economic and political evolution.
Initially introduced in 1980, the metical replaced the Portuguese escudo at par. However, due to high inflation and economic instability, the currency was redenominated in 2006, with 1,000 old meticais (MZM) being exchanged for 1 new metical (MZN). The old metical (MZM) is no longer legal tender, but it remains a point of reference for historical and economic discussions. The currency is subdivided into 100 centavos, although coins are rarely used in daily transactions due to their low value.
Today, the metical is used for all transactions within Mozambique, including trade, wages, and pricing of goods and services. The exchange rate is determined by market forces, with the central bank intervening to manage volatility. The currency plays a crucial role in the country's economy, which is heavily reliant on agriculture, natural gas, and tourism. Understanding the metical is essential for anyone doing business or traveling in Mozambique.
- Code
- MZM
- Symbol
- MZM
- Current rate
- USD / MZM
Currency information
Last updated · 8/7/2026
Introduced in 1980, replacing the escudo at a rate of 1 metical = 1 escudo.
- Official name
- Metical
- Legal tender status
- Withdrawn
- Decimal places
- 2
- Minor unit
- Centavo · 1 MZM = 100 Centavo
- Countries
- Mozambique
- Issuing authority
- Bank of Mozambique
- Central bank
- Bank of Mozambique · Official website
- Exchange-rate regime
- Floating
Common banknotes
20 MT · 50 MT · 100 MT · 200 MT · 500 MT
Common coins
1 MT · 5 MT · 10 MT · 20 MT · 50 centavos
Also known as
Old metical · Mozambican metical · Metical · MZM · MT
Practical notes
- The old metical (MZM) was redenominated at a rate of 1,000:1 to the new metical (MZN) in 2006.
Priority currency pairs
The most useful conversions for this currency.
Mozambican metical questions
What is the MZM exchange rate?
The displayed rate is the latest available reference rate for USD/MZM. It can change throughout the day.
How can I convert MZM online?
Use the converter above to calculate indicative amounts between MZM and the other supported currencies.