The Reserve Bank of Malawi (RBM) will introduce the K2000 new note Maravi Post can reveal. According to the RBM manager Charles Tchuka this is because of economic crisis and devaluation of the kwacha.
“We want to tell Malawians that starting from December end they will be using a new note and that is K2000,” said Tchuka.
” This is because of the current economic turmoil as well as the devaluation of our note, ” he added.
Meanwhile, economic pundits are yet to issue a comment on the matter especially on what Malawians should expect from the development.
Historically, the Malawian Kwacha reached an all time high of 756.41 in February of 2016 and a record low of 4.15 in October of 1992.
The USDMWK decreased 9.2350 or 1.28% to 712.0900 on Friday November 11 from 721.3250 in the previous trading session. The USDMWK changed +0.35% during the last week, +0.30% during the last month and +25.51% during the last year.