Malawian kwacha : Ask Biography

Currency

ISO 4217 Code

MWK

Official user

Malawi

Inflation

7.5%

Subunit

1/100

tambala

Symbol

Coins and Banknotes

Freq. used coins

1, 5, 10 kwacha

Rarely used coins

1, 2, 5, 10, 20, 50 tambala

Central bank

Reserve Bank of Malawi

Home | Currency | Malawian kwacha

The kwacha (ISO 4217: MWK) is the currency of Malawi as of 1971, replacing the Malawian pound. It is divided into 100 tambala. The kwacha replaced other types of currency, namely British, South African and Rhodesian, that had previously circulated through the Malawian economy. The exchange rate of the kwacha undergoes fixed periodical adjustments, but since 1994 the exchange rate has floated. In 2005, administrative measures were put in place to control the exchange rate with other currencies. Banknotes are issued by the Reserve Bank of Malawi.