Exchange 7 MZN to NOK - 7 Mozambican Metical to Norwegian Krone
The metical (plural: meticais) 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 مثقال (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.
The krone [ˈkruːnə] (sign: kr; code: NOK), plural kroner, is the currency of Norway and its dependent territories. It is subdivided into 100 øre, which exist only electronically since 2012. The name translates into English as crown. The krone was the thirteenth most traded currency in the world by value in April 2010, down three positions from 2007.
7 Mozambican Metical to Norwegian Krone exchange rates chart
7 MZN to NOK Spot rate – This is known more formally as the ‘interbank’ rate. It is the rate banks or large financial institutions charge each other when trading significant amounts of foreign currency. In the business, this is sometimes referred to as a ‘spot rate’. It is not the tourist rate and you cannot buy currency at this rate, as you are buying relatively small amounts of foreign currency. In everyday life it is the same as the difference between wholesale and retail prices. The rates shown in financial newspapers and in broadcast media are usually the interbank rates.
7 Mozambican Metical to Norwegian Krone Cross rate – This is the rate we give to customers who want to exchange currencies that do not involve the local currency. For example, if you want to exchange Australian dollars into US dollars.
The Africa Report shines a light on how an African government crafted a shady deal, with the help of international contractors and big banks, that the country’s citizens will be paying for over decades to come