1 RMB (Chinese Yuan Renminbi - CNY) is approximately equal to 8552.3301 MZM (Mozambican Metical). It is the official currency of the Mozambique, which is a southern African nation, lying along the coast of Indian Ocean. The metical (MZM) replaced the escudo at par on 16 June 1980. The MZN (Mozambique New Metical) replaced the MZM (Mozambican Metical), however the old Metical (MZM) was acceptable until December 31, 2012. 1 MZM (Mozambican Metical) is sub-divided into 100 Centavos. The issue of the currency is controlled by the central bank, Banco de Mozambique. The name Metical is derived from Arabic.