Reserve Bank of Malawi issues new highest denomination banknote

reserve-bank-malawi
Reserve Bank of Malawi

The Reserve Bank of Malawi (RBM) will release a new 2,000 kwacha ($2.77) banknote next month as inflation and depreciation continues to erode the currency's value.

In 2012, the reserve bank removed the kwacha's peg to the dollar, triggering a 49% depreciation. A month later, the reserve bank issued a new currency series as the exchange rate reached 250 kwacha per dollar in an attempt to stem further depreciation.

Since then however, the kwacha has continued to fall – from 250 to the dollar to

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