Mozambique's Currency: The Mozambican Metical (MZN)

Mozambique uses the Mozambican metical (MZN) as its official currency. The metical is subdivided into 100 centavos, providing a straightforward decimal system for everyday transactions. Introduced in 1980 to replace the previous escudo, the metical has undergone redenomination in 2006 (1 new metical = 1,000 old meticais) to simplify accounting and combat inflation. Banknotes come in denominations of 20, 50, 100, 200, 500, and 1,000 meticais, while coins include 1, 5, 10, 20, and 50 centavos, plus 1, 2, 5, and 10 meticais. The currency is managed by the Banco de Moçambique, the country's central bank.

Visitors should note that while major hotels and tourist establishments may accept US dollars or euros, local markets, transport, and smaller vendors typically require payment in meticais. ATMs are widely available in cities like Maputo, Beira, and Nampula, dispensing local currency. Credit cards are accepted at upscale venues but cash remains king for most daily purchases.