MALAWI

(MWK) Currency News >>

CURRENCY:

Kwacha - MWK, Symbol Mk

DENOMINATIONS:

NOTE: Mk500, 200, 100, 50, 20, 10 and 5.

COIN: Mk1 and 20, 10, 5, 2 and 1 tambala.

US DOLLAR ACCEPTED?

N/A

CREDIT/DEBIT CARDS AND ATMS:

Very limited acceptance so it is not advised to rely on credit card use in Malawi. There are some hotels in larger cities which may accept major credit cards. Best to check in advance.

CURRENCY EXCHANGE:

The main world currencies can be exchanged.

TRAVELLER'S CHEQUES:

These are best in US dollars, Sterling, Euros or South African Rand.

BANKING HOURS:

Mon-Fri 0800-1400.

CURRENCY RESTRICTIONS:

Export of the Kwacha is limited to MWK 200.

COUNTRY OVERVIEW:

Officially called the Republic of Malawi, this country is located in southeast Africa and was once known as Nyasaland. Malawi gained independence against the British in 1964. The capital is Lilongwe and the largest city is Blantyre. The official language is English but the regional language, Chichewa is also recognised.

POPULATION:

Around 14 million.

ECONOMY:

Malawi has a dense population and suffers great poverty - it is one of the least developed countries in the world. The economy has relied heavily on aid from the IMF and World Bank. There are corruption concerns in relation to Malawi. Main elements of the economy are agriculture, with such products as tobacco, sugarcane, cotton and tea.