New banknotes in Mozambique

Mozambique has issued new banknotes made of synthetic material better suited to humid conditions. The notes came into circulation on 1 October and contain reinforced security features compared to the last paper banknotes that were launched in 2006 and were coming to the end of their lifespan.

The new notes come in amounts of 20, 50 and 100 Meticais while the higher denomination and less-used notes of 200, 500 and 1,000 Meticais have been reissued on paper, but with the improved security features.

The notes are made of the same material as currency used in Australia, Chile, Honduras, Malaysia, Mexico, Nigeria, Paraguay, Singapore and Zambia.

The previous Metical notes and coins became legal tender on 1 July 2006 when the government introduced a currency reform aimed at simplifying the system by removing three digits; replacing 1,000 old Meticais with 1 Metical, and so on.

The older paper notes are still valid and can be changed at the central Bank of Mozambique until the end of 2012.