Mozambique's official currency is the New Metical (as of March 2018, US$1 is roughly equivalent to 62 New Meticals), which replaced old Meticals at the rate of a thousand to one. The old currency was redeemable at the Bank of Mozambique until the end of 2012. The US$, South African rand, and recently the euro are also widely accepted and used in business transactions. The minimum legal salary is around US$60 per month. Mozambique is a member of the Southern African Development Community (SADC). The SADC free trade protocol is aimed at making the Southern African region more competitive by eliminating tariffs and other trade barriers. The World Bank in 2007 talked of Mozambique's 'blistering pace of economic growth'. A joint donor-government study in early 2007 said 'Mozambique is generally considered an aid success story.'