Wednesday, March 25, 2015

Metical to fall relative to the US dollar

The metical exchange in relation to the US dollar decreased in all segments of the foreign exchange market in the second half of February, highlighting the appreciation of 2.57% in exchange offices and 1.16% in the Interbank Foreign Exchange Market (MCI) - transaction between the Central Bank and commercial banks.
The latest report of the Bank of Mozambique shows that, in the same period, the spread between the average rate of exchange offices and the average of commercial banks decreased from 3.10% at 1.07%, while the spread (gap) between the average of the commercial banks and the quotations in MCI rose 0.58% to 6.61% .Thus, the MCI, one dollar was traded for 32.37 until the last day of last month, while commercial banks applied the quotation of 34.51 meticais per dollar and foreign exchange bureaus 34.88 meticais.

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