1 RMB (Chinese Yuan Renminbi - CNY) is approximately equal to 7.7827 MZN (Mozambique New Metical). It is the official currency of the Mozambique, which is a southern African nation, lying along the coast of Indian Ocean. The old metical (MZM) introduced in 1980 was in circulation until December 31, 2012, after which the new metical, MZN (Mozambique New Metical) replaced the old metical, MZM (Mozambican Metical). The MZN (Mozambique New Metical) is denoted by the symbol MT. 1 MZN is sub-divided into100 Centavos. The issue of the currency is controlled by the central bank, Banco de Mozambique. The name Metical is derived from Arabic. The currency MZN is pegged to none.