The
currency of Malawi is known as the Malawian Kwacha abbreviated
as MWK. The Kwacha was introduced in 1971 to replace the Pound
which had been in use since the country’s independence. One
Kwacha is equivalent to 100 Tambala. The issuance of this currency
and exchange rates is overseen by the Reserve Bank of Malawi.
Denominations:
Coin denominations exist for; 1, 2 5, 10, 20 and 50 Tambala;
and 1 Kwacha. Banknotes exist for; 5, 10, 20, 50, 100, 200 and
500 Kwacha.
Exchange Rates against major currencies:
At the time of writing (June 2006); One American Dollar was
equivalent to 138.99 Kwacha, One British Pound was equivalent
to 256.28 Kwacha and One Euro was equivalent to 177.53 Kwacha.
