Economy, Currency and Banking

Mozambique’s currency is the metical (plural meticais; 15,447 meticais equal U.S.$1; 2000 average). The central bank is the Bank of Mozambique, which used to be a part of the government-owned Commercial Bank of Mozambique. In 1992, however, the Commercial Bank was privatized, and the Bank of Mozambique was separated to keep it under government control.