Mozambican escudo
Encyclopedia
The escudo was the currency of Mozambique
from 1914 until 1980. It was subdivided into 100 centavos.
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.
. Emergency issues of notes for 10, 20 and 50 centavos and 1 and 2½ escudos were introduced in 1920, followed by regular issues for 1, 2½, 5, 10, 20, 50 and 100 escudos. Emergency issues for 50 centevaos and regular 500 and 1000 escudos notes were introduced in 1941. In 1976, 50, 100, 500 and 1000 escudos notes of the Banco Nacional Ultramarino were overprinted with the name of the new issuing bank, the Banco de Moçambique.
Mozambique
Mozambique, officially the Republic of Mozambique , is a country 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 Swaziland and South Africa to the southwest...
from 1914 until 1980. It was subdivided into 100 centavos.
History
The escudo replaced the realMozambican real
The real was the currency of Mozambique until 1914. It was equivalent to and circulated alongside the Portuguese real.-History:Coins specific for Mozambique were issued until 1853, whilst the first banknotes appeared in 1877...
at a rate of 1 escudo = 1000 réis. It was equal in value to the Portuguese escudo
Portuguese escudo
The escudo was the currency of Portugal prior to the introduction of the Euro on 1 January 1999 and its removal from circulation on 28 February 2002. The escudo was subdivided into 100 centavos....
until 1977. Initially, Mozambique had its own paper money but used Portuguese coins. Only in 1935 were coins issued specifically for use in Mozambique
Mozambique
Mozambique, officially the Republic of Mozambique , is a country 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 Swaziland and South Africa to the southwest...
. In 1975, the metica
Mozambican metica
The metica was a proposed currency for Mozambique. It was divided into 100 centimos. Coins were produced dated 1975 and banknotes dated 1976. However, these were not put into circulation and the escudo continued to circulate until 1980, when the metical was introduced....
was proposed as a replacement for the escudo, but it was not used. The escudo was replaced by the metical
Mozambican metical
The metical is the currency of Mozambique, abbreviated with the symbol MZN or MTn. It is nominally divided into 100 centavos.-First metical :...
in 1980 at par.
Coins
Between 1935 and 1936, coins for 10, 20 and 50 centavos, 1, 2½, 5 and 10 escudos, with the 2½, 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 UltramarinoBanco Nacional Ultramarino
Banco Nacional Ultramarino was a Portuguese bank with operations throughout the world, especially in Portugal's former overseas provinces. It ceased existence as an independent legal entity in Portugal following its merger with Caixa Geral de Depósitos, the government-owned savings bank, in...
. Emergency issues of notes for 10, 20 and 50 centavos and 1 and 2½ escudos were introduced in 1920, followed by regular issues for 1, 2½, 5, 10, 20, 50 and 100 escudos. Emergency issues for 50 centevaos and regular 500 and 1000 escudos notes were introduced in 1941. In 1976, 50, 100, 500 and 1000 escudos notes of the Banco Nacional Ultramarino were overprinted with the name of the new issuing bank, the Banco de Moçambique.