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Metical
The metical (; plural: ) 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. History First metical The metical () 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 on 1 July 2005, the metical briefly became the least valued currency unit, at a value of about 24,500 meticais per USD, until the Zimbabwean dollar took the title in late August 2005. Second metical On July 1, 2006, Mozambique redenominated the metical at a rate of 1000:1. The new ISO 4217 code is . New coins and banknotes were introduced on July 1, 2006, and the transitional period during which both old and new meticais could be used laste ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mozambique
Mozambique (), officially the Republic of Mozambique ( pt, Moçambique or , ; ny, Mozambiki; sw, Msumbiji; ts, Muzambhiki), is a country located in southeastern Africa bordered by the Indian Ocean to the east, Tanzania to the north, Malawi and Zambia to the northwest, Zimbabwe to the west, and Eswatini and South Africa to the southwest. The sovereign state is separated from the Comoros, Mayotte and Madagascar by the Mozambique Channel to the east. The capital and largest city is Maputo. Notably Northern Mozambique lies within the monsoon trade winds of the Indian Ocean and is frequentely affected by disruptive weather. Between the 7th and 11th centuries, a series of Swahili port towns developed on that area, which contributed to the development of a distinct Swahili culture and language. In the late medieval period, these towns were frequented by traders from Somalia, Ethiopia, Egypt, Arabia, Persia, and India. The voyage of Vasco da Gama in 1498 marked the arrival of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mozambican Escudo
The escudo was the currency of Mozambique from 1914 until 1980. It was subdivided into 100 ''centavos''. History The escudo replaced the real at a rate of 1 escudo = 1000 réis. It was equal in value to the Portuguese escudo until 1977. Initially, Mozambique had its own paper money but used Portuguese coins. Only in 1935 were coins issued specifically for use in Mozambique. In 1975, the metica was proposed as a replacement for the escudo, but it was not used. The escudo was replaced by the metical in 1980 at par. Coins Between 1935 and 1936, coins for 10, 20 and 50 centavos, 1, , 5 and 10 escudos, with the , 5 and 10 escudos in silver. In 1952, silver 20 escudos were issued. Between 1968 and 1971, base metal coins replaced the silver 5, 10 and 20 escudos. The last coins were issued in 1974. Banknotes In 1914, provisional issues for 100 and 1000 escudos were introduced, alongside regular issues for 10, 20 and 50 centavos, by the Banco Nacional Ultramarino. Emergency issues of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mithqāl
Mithqāl ( ar, ) is a unit of mass equal to which is mostly used for measuring precious metals, such as gold, and other commodities, like saffron. The name was also applied as an alternative term for the gold dinar, a coin that was used throughout much of the Islamic world from the 8th century onward and survived in parts of Africa until the 19th century. The name of Mozambique's currency since 1980, the ''metical'', is derived from ''mithqāl''. Etymology The word ''mithqāl'' ( ar, ; “weight, unit of weight”) comes from the Arabic ''thaqala'' (), meaning “to weigh”. Other variants of the unit in English include ''miskal'' (from Persian or Urdu ; ''misqāl''), ''mithkal, mitkal'' and ''mitqal.'' Indian mithqaal In India, the measurement is known as ''mithqaal''. It contains 4 and 3½ (rata'ii; مثقال). It is equivalent to 4.25 grams when measuring gold, or 4.5 grams when measuring commodities. It may be more or less than this. Conversion factors ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Mozambique
The economy of Mozambique is $14.396 billion by gross domestic product as of 2018, and has developed since the end of the Mozambican Civil War (1977–1992). In 1987, the government embarked on a series of macroeconomic reforms, which were designed to stabilize the economy. These steps, combined with donor assistance and with political stability since the multi-party elections in 1994, have led to dramatic improvements in the country's growth rate. Inflation was brought to single digits during the late 1990s, although it returned to double digits in 2000–02. Fiscal reforms, including the introduction of a value-added tax and reform of the customs service, have improved the government's revenue collection abilities. In spite of these gains, Mozambique remains dependent upon foreign assistance for much of its annual budget. Subsistence agriculture continues to employ the vast majority of the country's workforce. A substantial trade imbalance persists. However, the opening of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banco De Moçambique
The Bank of Mozambique ( pt, Banco de Moçambique) is the central bank of Mozambique. The bank does not function as a commercial bank, and has the responsibility of governing the monetary policies of the country. The president of the Republic appoints the governor. The bank is situated in the capital, Maputo, and has two branches, one in Beira and one in Nampula. The Bank of Mozambique is active in developing financial inclusion policy and is a member of the Alliance for Financial Inclusion. History Most of Mozambique was a Portuguese overseas territory for several centuries. After independence in 1975, the newly created Government of Mozambique took over, without compensation, the Mozambican operations of Banco Nacional Ultramarino, a Portuguese colonial bank that had been acting as the bank of issue for the colony. This became the nucleus of Bank of Mozambique. In 1977 the government also nationalized almost all banks in the country, including the Casa Bancária de Moçambique ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ISO 4217
ISO 4217 is a standard published by the International Organization for Standardization (ISO) that defines alpha codes and numeric codes for the representation of currencies and provides information about the relationships between individual currencies and their minor units. This data is published in three tables: * Table A.1 – ''Current currency & funds code list'' * Table A.2 – ''Current funds codes'' * Table A.3 – ''List of codes for historic denominations of currencies & funds'' The first edition of ISO 4217 was published in 1978. The tables, history and ongoing discussion are maintained by SIX Group on behalf of ISO and the Swiss Association for Standardization. The ISO 4217 code list is used in banking and business globally. In many countries, the ISO 4217 alpha codes for the more common currencies are so well known publicly that exchange rates published in newspapers or posted in banks use only these to delineate the currencies, instead of translated c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Centavo
The centavo (Spanish and Portuguese 'one hundredth') is a fractional monetary unit that represents one hundredth of a basic monetary unit in many countries around the world. The term comes from Latin ''centum'', ('one hundred'), with the added suffix ''-avo'' ('portion'). Circulating Places that currently use the centavo include: *Argentine peso *Bolivian boliviano *Brazilian real * Cape Verdean escudo * Colombian peso *Cuban peso * Dominican peso *East Timor centavo coins *Ecuadorian centavo coins *Guatemalan quetzal *Honduran lempira * Mexican peso *Mozambican metical * Nicaraguan córdoba *Philippine peso (''In English usage; ''séntimo'' or céntimo is used in Tagalog and Spanish respectively.'') File:50 Centavos (Philippines).jpg, 50 Philippine centavos (1964) of the ''English series''. File:10 Philippine centavos (2).jpg, 10 Philippine centavos (1945), from the Commonwealth period. File:1-centavo-real-2003.png, 1 Brazilian centavo (2003), no longer produced. File:2002phi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banknote Of Mozambique 2008 Issue 20 Meticais
A banknote—also called a bill (North American English), paper money, or simply a note—is a type of negotiable promissory note, made by a bank or other licensed authority, payable to the bearer on demand. Banknotes were originally issued by commercial banks, which were legally required to redeem the notes for legal tender (usually gold or silver coin) when presented to the chief cashier of the originating bank. These commercial banknotes only traded at face value in the market served by the issuing bank. Commercial banknotes have primarily been replaced by national banknotes issued by central banks or monetary authorities. National banknotes are often – but not always – legal tender, meaning that courts of law are required to recognize them as satisfactory payment of money debts. Historically, banks sought to ensure that they could always pay customers in coins when they presented banknotes for payment. This practice of "backing" notes with something of substance is t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Currencies Of Mozambique
A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a ''system of money'' in common use within a specific environment over time, especially for people in a nation state. Under this definition, the British Pound Sterling (£), euros (€), Japanese yen (¥), and U.S. dollars (US$)) are examples of (government-issued) fiat currencies. Currencies may act as stores of value and be traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are either chosen by users or decreed by governments, and each type has limited boundaries of acceptance - i.e. legal tender laws may require a particular unit of account for payments to government agencies. Other definitions of the term "c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Samora Machel
Samora Moisés Machel (29 September 1933 – 19 October 1986) was a Mozambican military commander and political leader. A socialist in the tradition of Marxism–Leninism, he served as the first President of Mozambique from the country's independence in 1975. Machel died in office in 1986 when his presidential aircraft crashed near the Mozambican-South African border. Early life Machel was born in the village of Madragoa (today's Chilembene), Gaza Province, Mozambique, to a family of farmers. His grandfather had been an active collaborator of Gungunhana. Under Portuguese rule, his father, like most Black Mozambicans, was classified by the demeaning term "indígena" (native). He was forced to accept lower prices for his crops than White farmers; compelled to grow labour-intensive cotton, which took time away from the food crops needed for his family; and forbidden to brand his mark on his cattle to prevent thievery. However, Machel's father was a successful farmer: he o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
De La Rue
De La Rue plc (, ) is a British company headquartered in Basingstoke, England, that designs and produces banknotes, secure polymer substrate and banknote security features (including security holograms, security threads and security printed products) for central banks and currency issuing authorities. It is listed on the London Stock Exchange. History The company was founded by Thomas de la Rue, who moved from Guernsey to London in 1821 and set up in business as a 'Leghorn' straw hat maker, then as a stationer and printer. In 1831 he secured his business a Royal Warrant to produce playing cards. In 1855 it started printing postage stamps and in 1860 banknotes. The company's first banknotes were made for Mauritius. In 1896, the family partnership was converted into a private company. In 1921, the de la Rue family sold their interests. The company was first listed on the London Stock Exchange in 1947. Then called ''Thomas De La Rue & Company, Limited'', it changed its nam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zimbabwean Dollar
The Zimbabwean dollar (sign: $, or Z$ to distinguish it from other dollar-denominated currencies) was the name of four official currencies of Zimbabwe from 1980 to 12 April 2009. During this time, it was subject to periods of extreme inflation, followed by a period of hyperinflation. The Zimbabwean dollar was introduced in 1980 to directly replace the Rhodesian dollar (which had been introduced in 1970) at par (1:1), at a similar value to the US dollar. In the 20th century the dollar functioned as a normal currency, but in the early 21st century hyperinflation in Zimbabwe reduced the Zimbabwean dollar to one of the lowest valued currency units in the world. It was redenominated three times (in 2006, 2008 and 2009), with denominations up to a $100 trillion banknote issued. The final redenomination produced the "fourth dollar" (ZWL), which was worth 1025 ZWD (first dollars). Use of the Zimbabwean dollar as an official currency was effectively abandoned on 12 April 2009. It ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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