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Malawian kwacha
From Wikipedia, the free encyclopedia
| Malawian kwacha | |||
|
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| ISO 4217 Code | MWK | ||
|---|---|---|---|
| User(s) | Malawi | ||
| Inflation | 15.1% | ||
| Source | The World Factbook, 2006 est. | ||
| Subunit | |||
| 1/100 | tambala | ||
| Symbol | MK | ||
| Coins | 1, 2, 5, 10, 20, 50 tambala, 1, 5, 10 kwacha | ||
| Banknotes | 5, 10, 20, 50, 100, 200, 500 kwacha | ||
| Central bank | Reserve Bank of Malawi | ||
| Website | www.rbm.mw | ||
The kwacha has been the currency of Malawi since 1971. The kwacha replaced the Malawian pound at a rate of 2 kwacha = 1 pound. The kwacha (ISO 4217: MWK) is divided into 100 tambala.
The name kwacha derives from the Nyanja and Bemba word for "dawn" while the name tambala translates as "rooster" in Nyanja. The poetic inference of this currency formulation is that "one hundred roosters makes the dawn."
Contents |
Coins were introduced in 1971 in denominations of 1, 2, 5, 10 and 20 tambala. In 1986, 50 tambala and 1 kwacha coins were added. New bimetallic 5 and 10 kwacha coins were released in January 2007[1]. All these denominations are currently circulating.
In 1971, banknotes were introduced in denominations of 50 tambala, 1, 2 and 10 kwacha. 5 kwacha notes were introduced in 1973 when the 2 kwacha note was discontinued. 20 kwacha notes were introduced in 1983. 50 tambala notes were last issued in 1986, with the last 1 kwacha notes printed in 1988. In 1993, 50 kwacha notes were introduced, followed by 100 kwacha in 1993, 200 kwacha in 1995 and 500 kwacha in 2001.
As of 2005, the following banknote denominations of banknotes are in circulation:
| 1997 Series [2] | ||||||
|---|---|---|---|---|---|---|
| Image | Value | Dimensions | Main Colour | Description | Date of first printing | |
| Obverse | Reverse | |||||
| K5 | 126 × 63 mm | Green | John Chilembwe | Villagers mashing grain | 1 July 1997 | |
| K10 | 132 × 66 mm | Brown | Children in "bush" school | |||
 |
K20 | 138 × 69 mm | Purple | Workers harvesting tea leaves | ||
| K50 | 144 × 72 mm | Blue | Independence Arc in Blantyre | |||
| K100 | 150 × 75 mm | Red | Capital Hill in Lilongwe | |||
| K200 | 156 × 78 mm | Blue | Reserve Bank building | |||
| K500 | Multi-colour | 1 December 2001 | ||||
| These images are to scale at 0.7 pixels per millimetre, a standard for world banknotes. For table standards, see the banknote specification table. | ||||||
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- Don's World Coin Gallery - Malawi
- Ron Wise's World Paper Money - Malawi Mirror site
- Tables of Modern Monetary Systems by Kurt Schuler - Malawi Mirror site
- The Global History of Currencies - Malawi
- Global Financial Data currency histories table (
Microsoft Excel format) - Ne 5 and 10 kwacha from the world coin news website.
| Preceded by: Malawian pound Ratio: 2 kwacha = 1 pound |
Currency of Malawi 1971 – |
Succeeded by: Current |