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
Monetary hegemony Monetary hegemony Monetary hegemony is an economic and political concept in which a single state has decisive influence over the functions of the international monetary system. A monetary hegemon would need: The term monetary hegemony appeared in Michael Hudson's "Super Imperialism", describing not only an asymmetrical relationship that the US dollar has to the global economy, but the structures of this hegemonic edifice that Hudson felt supported it, namely the International Monetary Fund and the World Bank. The US dollar continues to underpin the world economy and is the key currency for medium of international exchange, unit of account (e.g.