Reserve Bank of Malawi issues new highest denomination banknote

Central bank issues new denomination as inflation and depreciation continue

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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