Stepping into the vast landscapes of Mozambique is akin to stumbling upon an untouched treasury of cultural and natural wonders. One of the most crucial preparations, however, entails figuring out the best currency to take during your trip to this subtropical region. Understanding the financial aspects can potentially prevent any monetary confusion during your stay in Mozambique, allowing you to fully immerse in the breathtaking sceneries and intriguing adventures that surround you.
Let’s plunge deeper into your most convenient currency options when traversing the stunning landscapes of Mozambique.
The Mozambican Metical (MZN)
The Mozambican currency is the Metical (or Meticais plural). The symbol is MZN and it replaced the MZM in 2008. In effect the MZN is the same as the MZM but with 3 zeros removed. Mozambique’s official currency, the Mozambican metical, offers several benefits in country. First, it’s accepted virtually everywhere, from sophisticated hotels to local markets. This accessibility guarantees flawless, swift transactions no matter the setting. Second, carrying the local currency averts conversion rate complications. Foreign exchange rates can fluctuate and impact your purchasing power, but this peril is eliminated with the metical.
Machel saw the introduction of the metical as a matter of patriotic importance; it represented the elimination of Portuguese colonialism in Mozambique and positively reflected on the efforts of those who fought against colonial rule in the country.
Machel told the public that the new coins and banknotes celebrated the working class and peasantry, the Popular Forces for the Liberation of Mozambique (FPLM, now the Mozambique Defence Armed Forces), and the heroic people of Mozambique.
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When asked why a new national currency was only now being implemented after five years of independence, Machel emphasised the importance of the Bank of Mozambique and how it had to establish itself as the centre of commerce in the nation before a new currency could be introduced.
"Let us make the creation of the Metical a moment of popular mobilization. A moment of our full engagement in the battle for victory against underdevelopment, the elimination of hunger, nakedness, poverty, illiteracy and the triumph of socialism in our dear country. Let the creation of the Metical be a time of joy and popular celebration, expressing our patriotic feelings, for this historic achievement of our people. The struggle continues! Revolution will win!
The metical was divided into 100 centavos. It underwent severe inflation. On 1 July 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 1 July 2006, and the transitional period during which both old and new meticais could be used lasted until 31 December 2006.
In 1980, coins were introduced in denominations of 50 centavos, 1, 2+1⁄2, 5, 10 and 20 meticais. The 50 centavos, 2+1⁄2 and 5 meticais were minted in aluminium, with the 1 metical in brass and the 10 and 20 meticais in cupro-nickel.
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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.
From 1 July 2006, new banknotes were issued in denominations of 20, 50, 100, 200, 500, and 1000 meticais.
On 1 October 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.
Important Note: Old MZM notes are no longer accepted anywhere and no longer have any value. Many households in Mozambique have a pile of the old notes hoping one day they will become valuable collectors' items.
Other Currencies Accepted in Mozambique
The following currencies can also be used in Mozambique to differing degrees:
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South African Rand (ZAR)
The South African Rand is by far the most widely accepted foreign currency in Mozambique. Indeed in many of the South African hotspots like Ponta do Ouro, Ponta Malongane, Guinjata Bay, and Praia da Barra, it's sometimes easier to get by with Rands than it is with Meticais, especially when in more remote areas where there is constantly difficulties in getting change.
Rands are widely accepted in tourism centres in the south of the country, the further north you go the more difficult it gets to change them to Meticais. In the central and northern regions of the country they are not as readily accepted.
Despite the wide acceptance of Rands in southern Mozambique MozambicanHotels recommends travellers always carry sufficient Meticais especially for purchases in small villages while travelling, and also for some restaurants or shops who may offer very poor exchange rates for Rands.
Another good strategy is to carry a small amount of cash for emergencies but rely on your credit/debit cards as ATMs and POS machines are readily available throughout most of the country.
US Dollar (USD)
The United States dollar is the second most widely accepted foreign currency in Mozambique. dollars broadly rank as the second-best choice for currency when in Mozambique. On the positive side, if you bring dollars, you can use it as an emergency backup if you exhaust your meticais. Additionally, big-ticket purchases, like a luxurious stay at a resort, often prove easier with dollars.
In most tourist hotspots you will get very good exchange rates especially if you exchange in "Casas de Cambio", rather than banks for example. Exchange houses often even give better rates than advertised if you ask if they can improve the rate a little.
If you are in major cities or major tourist destinations you will always be able to get good rates for dollars but once out of these centres USD is not as readily accepted. As per the advice above regarding the Rand, it's always better to have a sufficient amount of local currency on you.
On the downside, change from dollars might get returned in meticais, often leading to unfavorable conversion rates.
TOP Currency Exchange Advice! | International Travel Money Tips 💸
Euro (€)
The Euro is easily changed in Exchange Houses and Banks but is not as conveniently changed as Rands and USD. Many places will not offer a fair exchange rate if you try to pay with Euros. If you do bring Euros to Mozambique make sure you exchange enough to Meticais when you are in major centres.
British Pounds (£)
Can be exchanged in Maputo in Banks and exchange houses but not always at favourable rates. Not a recommend currency to bring to Mozambique unless you are staying in Maputo for the duration of your trip.
Other Currencies
MozambicanHotels does not recommend bringing any other currency to Mozambique due to difficulty in exchanging, or the poor rates offered. The Australian Dollar, for example, is one currency that some travellers bring to Mozambique only to discover that it cannot be exchanged anywhere, not even in the Consulate.
USD to MZN Exchange Rate Statistics
Here's a summary of the USD to MZN exchange rate statistics over the last 7, 30, and 90 days:
| Statistic | Last 7 Days | Last 30 Days | Last 90 Days |
|---|---|---|---|
| High | 63.909 | 63.910 | 63.910 |
| Low | 63.825 | 63.750 | 63.592 |
| Average | 63.881 | 63.854 | 63.844 |
| Volatility | 0.06% | 0.11% | 0.14% |
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