In Mozambique, a three day operation to replace the country's currency ended last Wednesday (18 June).
CU New 1000 Metical note on display
TV PAN From bridge over river to crowds queuing outside Bank of Mozambique (2 shots)
CU PULL BACK TO LV Bank emblem and people queuing
TV Queue stretching around block
CU Display of new bank notes (2 shots)
LV AND GV Crowds around bank
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Background: In Mozambique, a three day operation to replace the country's currency ended last Wednesday (18 June). During the changeover all borders remained closed. The move came a week after the government had announced the first general round of price increases for foodstuffs and basic household goods since independence five years ago. Recently Mozambique's President Samora Machel concluded a series of meetings with leaders of other southern African states. Later he said the country faced "a new battle" for economic independence and co-operation.
SYNOPSIS: The new metical, as the unit of currency is called, replaces the escudo, but it is not exactly pegged to the prevailing rate in the rest of the escudo zone. During the changeover, long queues waited outside the banks to covert their currency. The name "metical" has its origins in the country's history before the Portuguese occupation in the fifteenth country. In those days the currency was a unite of gold, called by its Arab name Mithgal. Metical is a local derivation.
President Machel said the issuing of the new currency was timed to coincide with the twentieth anniversary of what he called a massacre perpetrated by the Portuguese colonial authorities at the northern town of Mueda. The event, he said symbolised the end of Mozambique's peaceful resistance to colonial rule.