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 take over responsibilities of the African Monetary Fund. The creation of the ACB, to be completed by 2028 was first agreed upon in the 1991 Abuja Treaty. The 1999 Sirte Declaration called for a speeding up of this process with creation by 2020. When it is fully implemented via Pan-African Parliament legislation, the ACB will be the sole issuer of the African single currency (African Monetary Union/Afro), will become the banker of the African Government, will be the banker to Africa's private and public banking institutions, will regulate and supervise the African banking industry, and will set the official interest