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Foreign currency purchases by Mozambican commercial banks from their clients increased by 12.5% in the third quarter of 2026, reaching $2.27 billion, compared with $2.02 billion recorded in the previous three months, according to data released by the Bank of Mozambique (BdM).
The figures are contained in the latest Interbank Money and Foreign Exchange Markets Bulletin, covering the period from July to September, which also indicates a 4.7% increase in the overall volume of foreign exchange transactions between banks and their clients.
According to the report, the total value of transactions in this segment rose from $4.68 billion in the second quarter to $4.89 billion in the third quarter, reflecting increased foreign currency activity within the national banking system.
Regarding foreign currency sales to clients, commercial banks recorded transactions worth $2.06 billion, representing a 1.8% increase compared with the $2.03 billion registered between April and June.
Conversely, transactions involving financial derivatives declined from $628.7 million to $558.2 million during the period under review.
The central bank attributed the increase in foreign exchange activity, among other factors, to extraordinary foreign currency conversion operations and the resumption of liquefied natural gas (LNG) projects, which helped stimulate transactions in the market.
Metical Remains Stable Against the US Dollar
Despite the increase in foreign exchange transactions, the Mozambican metical remained relatively stable against the US dollar throughout the third quarter.
At the end of September, the effective exchange rate stood at 63.91 meticais per dollar, while the reference exchange rate was 64.13 meticais, remaining close to the levels recorded at the end of June.
Meanwhile, the Bank of Mozambique is preparing to introduce a digital platform to monitor foreign exchange transactions, which is expected to become operational by the end of December this year.
The platform will enable real-time monitoring of foreign currency supply and demand within the financial system, including the amounts made available by exporters, importers' foreign currency requirements, and exchange rates applied by commercial banks.
The initiative was announced on 30 September by the Governor of the Bank of Mozambique, Felisberto Navalha, who dismissed claims of a widespread foreign currency shortage in the country.
However, the governor acknowledged that some financial institutions may experience occasional difficulties in providing foreign currency to their clients.
According to Navalha, market indicators point to a gradual improvement in foreign currency liquidity, stressing that the challenges faced by certain businesses should not be interpreted as evidence of a system-wide shortage across Mozambique's banking sector.
US energy giant ExxonMobil has announced an agreement to increase its stake in the Rovuma liquefied natural gas (LNG) project to 50%, strengthening its position in one of Mozambique's largest planned energy investments, valued at approximately $30 billion and located in Area 4 of the Rovuma Basin, Cabo Delgado Province.
Road traffic along National Road Number 13 (N13), connecting the districts of Ribáuè and Malema in Nampula Province, will be temporarily suspended on 5 and 6 November, between 6:00 a.m. and 5:00 p.m., as part of rehabilitation works on the bridge over the Natete River.
**A major fire broke out on Sunday morning, November 1, at the Oncology Department of Maputo Central Hospital (HCM), a medical facility responsible for diagnosing, treating and monitoring cancer patients. The cause of the fire and the extent of the damage remain unknown.**
Electricidade de Moçambique (EDM) has announced scheduled power outages for Saturday, 31 October, and Sunday, 1 November, affecting several areas of Maputo City and the provinces of Gaza, Sofala, Manica and Zambézia, as part of preventive and corrective maintenance work on electricity infrastructure.
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The Mozambican Government and the Mozambican Federation of Road Transport Operators' Associations (FEMATRO) have reached an agreement to increase fares for semi-collective passenger transport services in the Greater Maputo metropolitan area by five meticais, with the new rates expected to take effect on 7 November 2026.
The Mozambican Government has approved new restrictions on the importation of sliced bread, introducing mandatory prior licensing, specific fees and limits on imported quantities as part of measures aimed at protecting the domestic bakery industry and stimulating local production. The new regulations will take effect on 27 November 2026.
Mozambican politician Venâncio Mondlane has pledged to expose alleged irregularities and political interference in state institutions during his trial, scheduled for 17 November at the Supreme Court, describing the proceedings as an opportunity to reveal what he claims are mechanisms of political influence over Mozambique's justice system.
More than 1.8 million Mozambicans could face severe food insecurity between October 2026 and March 2027 due to the combined effects of drought associated with the El Niño phenomenon, armed conflict and dwindling food reserves, humanitarian organisation CARE Mozambique warned on Friday (30 October).
