Mozambique Sees 262.7% Surge in Interbank FX Transactions Amid LNG Resumption
The Bank of Mozambique has reported a significant surge in interbank FX transactions in Q2, with volumes increasing by 262.7% compared to the previous quarter.
This growth is attributed to the resumption of liquefied natural gas projects and extraordinary foreign exchange conversions.
The spot foreign exchange transactions between commercial banks rose from $4.46 million in Q1 to $16.16 million in Q2, according to the central bank's Interbank Monetary and Foreign Exchange Markets Bulletin for the second quarter of 2026.
Mozambique is set to benefit from several LNG projects, including Eni's Coral Sul, which has been operational since 2022, and TotalEnergies' Mozambique LNG project, which resumed in January after a four-year suspension due to armed attacks in Cabo Delgado.