Mozambican metical 24,500 meticais per USD, until the Zimbabwean dollar took the title in late August 2005. On July 1, 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 July 1, 2006, and the transitional period during which both old and new meticais could be used lasted until December 31, 2006. During the conversion, the new currency was locally abbreviated as MTn, but has since largely returned to MT. Old meticais were redeemed by the Bank of Mozambique for a period of six years, until December 31,
South Korea and the International Monetary Fund Philippines, Singapore, Thailand, Vietnam, Cambodia, Myanmar, Brunei, and Lao. The agreement was made in order for these nations to stop hoarding foreign reserves, which could theoretically help grow these countries' economies, allow foreign investors to trust more these Asian countries' currencies more, and act as a safety net for South Korea's economy and the other comprising Asian countries' economies. South Korea and the International Monetary Fund South Korea has grown to become the 14th largest economy of the world and has joined financial institutions of the world as the country grew. From joining the International Monetary Fund (IMF), South Korea