New Currencies circulate in Malawi

New Currencies circulate in Malawi

Lilongwe : Malawi | May 22, 2012 at 11:41 PM PDT
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Lilongwe, Malawi, July 2009

In Malawi, new Bank notes have started circulating today May 23 2012 following the introduction of a new K 1000 bank note and new look K 500, K 200, K 100, K 50 and K 20 notes.

The Malawi Government through the Reserve Bank of Malawi (RBM) has also put into circulation new K 10, K 5 and K 1 coins.

However old and new Malawi currencies will be trading concurrently up to next year when the old ones will be withdrawn permanently.

The new bank notes and coins are small in nature comparing to the old ones, The RBM has assured in Lilongwe.

The new bank notes introduction was announced during the late Bingu wa Muthalika government era and comes after the Malawi kwacha has been devalued in the Joyce BAnda led government. Mutharika vehemently refused to devalue the Malawi kwacha.

Deatils of features and themes of the Malawi currencies will be in a follow up report.

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Vice President Joyce Banda will become Malawi's first female leader
Vice President Joyce Banda will become Malawi's first female leader
TAPITAYA is based in Blantyre, Blantyre City, Malawi, and is a Reporter on Allvoices.
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