Malawian kwacha

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Malawian kwacha
ISO 4217 Code MWK
User(s) Malawi
Inflation 7.5%
Source Reserve Bank of Malawi, Dec 2007.
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 (ISO 4217: MWK) has been the currency of Malawi since 1971. It is divided into 100 tambala.

Contents

[edit] Etymology

The name kwacha derives from the Nyanja and Bemba word for "dawn" while the name tambala translates as "rooster" in Nyanja. A rooster appeared on the first 1 tambala coins.

[edit] History

The kwacha replaced the pound on 1971 at a rate of 2 kwacha = 1 pound (1 kwacha = 10 shillings).

[edit] Coins

Coins were introduced in 1971 in denominations of 1, 2, 5, 10 and 20 tambala. The 1 and 2 tambala were struck in bronze, the others in cupro-nickel. In 1986, cupro-nickel 50 tambala and nickel-brass 1 kwacha coins were added. Bimetallic 5 and 10 kwacha coins (dated 2006) were released in January 2007 [1]. All these denominations are currently circulating.

[edit] Banknotes

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 2008, 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 Wikipedia standard for world banknotes. For table standards, see the banknote specification table.
Current MWK exchange rates
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[edit] See also

[edit] External links

Preceded by:
Malawian pound
Ratio: 2 kwacha = 1 pound		 Currency of Malawi
1971 –		 Succeeded by:
Current