Mozambican metical Mozambican metical The metical (plural: "meticais") is the currency of Mozambique, abbreviated with the symbol "MZN" or "MT". It is nominally divided into 100 centavos. The name "metical" comes from Arabic ("mithqāl"), a unit of weight and an alternative name for the gold dinar coin that was used throughout much of Africa until the 19th century. The metical (MZM) replaced the "escudo" at par on 16 June 1980. It was divided into 100 "centavos". The metical underwent severe inflation. After the revaluation of the Romanian leu, the metical briefly became the least valued currency unit, at a value of about
African Monetary Union in the next ten years. So far only three of the 53 member states of the African Union have committed to using the currency. Egypt, Swaziland, and Lesotho have logged reservations over the precise date of monetary union and have requested a two- to three-year delay. Seychelles may not join as a result of economic fears and may, along with Cape Verde, attempt to join the euro at a later date, while the official currency of Mayotte is the euro. The African Central Bank (ACB) is one of the three financial institutions of the African Union. It will over time