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,
Central Bank of West African States currency as the common central bank for the then seven member countries: Central Bank of West African States The Central Bank of West African States (, BCEAO) is a central bank serving the eight west African countries which share the common West African CFA franc currency and comprise the West African Economic and Monetary Union (UEMOA): The Bank is active in developing financial inclusion policy and is a member of the Alliance for Financial Inclusion. Its predecessor, the , was created in 1955 and was transformed into BCEAO in 1959. The treaty establishing the West African Monetary Union (UMOA), signed