MZNMozambican MeticalMozambican Metical (MZN)
The Mozambican metical is Mozambique's national currency and legal tender. The Bank of Mozambique is the monetary authority responsible for issuing the currency and supporting the payment system. MZN is the ISO code used in international exchange-rate and settlement records, and one metical is divided into 100 centavos. The currency name is associated with Mozambique's national history, but the code is the safer label for cross-border software and invoices. Local prices, wages and domestic accounts use meticais, while foreign-currency conversions may be shown for trade, travel or remittance purposes.
- ISO code
- MZN
- Symbol
- MTn
- Region
- Africa
- Currency type
- Fiat currency
- Exchange system
- Mozambican Metical operates under the reviewed market-determined exchange-rate framework arrangement.
- Last reviewed
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Quick facts
MZN at a glance
Currency profile
How MZN works
The Mozambican metical is Mozambique's national currency and legal tender. The Bank of Mozambique is the monetary authority responsible for issuing the currency and supporting the payment system. MZN is the ISO code used in international exchange-rate and settlement records, and one metical is divided into 100 centavos. The currency name is associated with Mozambique's national history, but the code is the safer label for cross-border software and invoices. Local prices, wages and domestic accounts use meticais, while foreign-currency conversions may be shown for trade, travel or remittance purposes.
Bank of Mozambique administers MZN within a market-determined exchange-rate framework system.
- The current metical scale was introduced in 2006 at 1,000 old meticais to 1 new metical.
- The reviewed cash profile records MZN 20, MZN 50, MZN 100, MZN 200, MZN 500, MZN 1,000 for banknotes and 1, 5, 10, 20 and 50 centavos, MZN 1, MZN 2, MZN 5, MZN 10 for coins.
Context
Why this currency matters
Mozambique introduced the current metical scale in 2006 through a redenomination in which 1,000 old meticais became 1 new metical. That historical fact matters when old price records or archival rates are compared with current MZN amounts. The Bank of Mozambique publishes information on notes, coins and the national currency framework, while the modern payment system also includes banking and electronic channels. Exchange providers may add spreads, fees or cash-handling charges, and the amount shown on a card transaction may use a different processing date. Mozambique's metical is the national unit behind domestic prices and payment records, and MZN gives software an unambiguous identifier. The Banco de Mocambique's role and the metical's cash structure provide a factual base for the profile.
Monetary framework
Exchange arrangement
Mozambican Metical operates under the reviewed market-determined exchange-rate framework arrangement.
CurrencyHub shows daily reference rates. Banks, card networks, ATMs and transfer providers may apply different exchange rates, fees or spreads.
History timeline
Key dates for MZN
Metical introduced
Mozambique replaced the escudo with the metical after independence.
Bank of MozambiqueMetical redenominated
The current MZN replaced the old metical at one new metical to one thousand old meticais.
Bank of MozambiqueNew banknote series
Banco de Mocambique introduced updated banknotes with revised security features.
Bank of Mozambique
Usage and economy
How MZN is used
- MZN denominates Mozambican prices, salaries, taxes and local bank accounts.
- Metical conversions are important for regional commerce, energy projects, travel and remittance flows.
Banknotes and coins
MZN currency units
The issuing authority documents the reviewed MZN banknote denominations used in the current cash system.
The issuing authority documents the circulation coin system for MZN.
One Mozambican Metical unit is recorded with 2 decimal places and uses Centavo as its minor unit.
Related currencies
Currency relationships
Explore currencies connected through regional use, trade comparisons or monetary relationships.
FAQ
MZN questions
What happened to the old metical in 2006?
Mozambique redenominated its currency in 2006: 1,000 old meticais became 1 new metical.
Who issues the metical?
The Bank of Mozambique is the monetary authority responsible for the metical's issue and currency framework.
What changed for MZN in 1980?
Mozambique replaced the escudo with the metical after independence.
Sources
Data and editorial review
Rate source: Frankfurter
Last reviewed:
Currency identity and cash information is checked against central-bank, government, ISO and official international sources.