New Monies

Living in a rural area in Mozambique we’re on the periphery of the metical zone. In fact we often see Malawian Kwacha competing with our national currency in the market place and products are often priced in both currency, although the recent economic crisis across the border dampened local enthusiasm for the foreign denomination. With no local banks here, its difficult for our money to circulate with any vigor with the larger Mozambican financial system. Sometimes I think we pass the same grubby bank note back and forth with the market ladies, each time slightly dirtier and smellier. The 20s are the worst, most of them are torn or have holes with the metallic security strip hanging out or missing. Few can pass as purple, there intended color, most just look a grubby shade of brown. The large big bills like the 1000 or 500 don’t change hands too often, so they’re rarely seen in these rural parts. That’s often what comes out of the ATM in the city, so even though they’re not as gross, it’s always a challenge to find someone with enough to accept one of these monster bills worth the equivalent of about $35 or $17.50 respectively, more money than most locals make in a month. The government has an idea for upgrading their embarrassingly dirty notes, new plastic money. We’ve only seen a couple so far, one down in the city, and one in the town square where one of our teacher colleagues was trying to confiscate it from some students during a holiday celebration. Considering we are still using the old Mozambican currency from before when they chopped of three zeros over five years ago, we’re not expecting to see too many of these new plastic monies before the end of service. Still, Malawi is were they really needed to update the money. Currently their highest valued note is 500 Kwacha, about $3 US, and that value is steadily eroding in their precarious national situation. It doesn’t take much wealth at all for a Malawian to boast a healthy looking wad of cash. They are really due for some larger bills.