Mozambique - Foreign Exchange Controls Mozambique - Foreign Exchange
Foreign exchange is available to importers and exporters to finance current account transactions. An application to purchase the necessary foreign currency must be approved by the Bank of Mozambique before an exporter or importer may purchase foreign currency from commercial banks or exchange houses. Such applications are routinely approved by the Central Bank within 15 days, upon presentation of documents relating to the goods in question. Applications can be approved prior to the arrival of goods in Mozambique. Commercial banks and exchange houses may apply for authorization on behalf of their clients. Applications must include proof of the importer’s/exporter’s ability to finance the transaction. For advance payments in excess of USD50,000, a performance guarantee from a banking institution may be required.
Loans in foreign currency are only available to exporters and some approved projects that benefit the country.