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,
Monetary policy of the Philippines banks cannot lend out to people. They always need to maintain a certain balance of money, which are called "reserves". Once these reserve requirements are changed and are varied, changes in the monetary supply will be observed greatly. Two Forms: In accordance with Republic Act No. 265, The Bangko Sentral ng Pilipinas or BSP is the central monetary authority of the republic of the Philippines. It provides policy directions in the areas of money, banking and credit and exists to supervise operations of banks and exercises regulatory powers over non-bank financial institutions. It keeps aggregate demand from growing rapidly with