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,
Trade in the East African Community a Common Market, a Monetary Union, and ultimately a Political Federation of the East African States." East African Community countries also have active trade to other parts of the world, like the European Union. Each country is apart of the World Trade Organization except for South Sudan who remains out of this conglomeration. As of 2014, these six countries have a combined GDP of $159.5 billion, GDP per capita of $918, total population of 168.5 million, total import $40.2 billion, and total export $13.6 billion. These countries become much stronger as a part of the community as they become a