The meticais or metical is an official currency of Mozambique with currency code MZN and symbol MT or MTn. It is subdivided into 100 centavos. The name metical is derived from an Arabic word mithqal that was used in Africa until the 19th century.
Mozambique Meticais was introduced on 16th June 1980 by replacing the old currency escudo. The meticais went under severe inflation and became the smallest valued currency unit after the revision of the Romanian leu on 1st July 2005. The Mozambique central bank the Banco de Moçambique introduced a new series of coins and banknotes on 1st July 2006.
An ever first series of Mozambique Meticais coins were introduced in 1980 in denominations of 50 centavos and 1, 2 1⁄2, 5, 10 and 20 meticais, while coins of 1, 10, 20 and 50 meticais were added in 1986. A series of the new coinage of 1, 5, 10, 20, 50, 100, 500 and 1000 meticais were introduced in 1994, while coin of 5000 meticais in 1998 and 10,000 meticais added in 2003. On 1st July 2006, coins of 1, 5, 10, 20, 50 centavos and 1, 2, 5 and 10 meticais were introduced.
The first series of Mozambique Meticais banknotes were introduced on 16th June 1980 in denominations of 50, 100, 500 and 1000 meticais, notes with same denominations were reissued in 1983 with new state logo. On 16th June 1991, banknotes of 500, 1000, 5000 and 10,000 were added notes of 50,000 and 100,000 on 16th June 1993. On 1st July 2006, a new series of banknotes were issued in denominations of 20, 50, 100, 200, 500 and 1000 meticais. On 1st October 2011, the central bank of Mozambique introduced a new family of banknotes similar to 2006 series but with enhanced features.
The current series of Mozambique Meticais banknotes and coins generally in circulation include:
Banknotes:
Frequently used 20, 50, 100, 200, 500 meticais
Rarely used 1000 meticais.
Coins: 50 centavos, 1, 2, 5, 10 meticais obsolete: 1, 5, 10, 20 centavos