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,
Assembly of the African Union on 25 May 1963, as part of the ratification of Organization of African Unity (OAU). Initially the Assembly consisted of 32 independent members, the heads of state of the African states that had achieved independence by 1963. Until 2001, the governing constitution of the Assembly was the OAU Charter. The Assembly is now subject to the Union Act that created the African Union. The Assembly has nine basic functions: The Assembly shall take its decisions by consensus or, failing which, by a two-thirds majority of the Member States of the Union. However, procedural matters, including the question of whether a