From Wikipedia, the free encyclopedia
Historical currency of Malawi
The
pound
was the currency of
Malawi
until 1971. From 1932, Malawi (then known as
Nyasaland
) used the
Southern Rhodesian pound
. In 1955, a new currency was introduced, the
Rhodesia and Nyasaland pound
. This was replaced by the Malawian pound in 1964, following Malawi's independence. The pound was subdivided into 20
shillings
, each of 12
pence
. The pound was replaced by the
decimal
kwacha
in 1971, at a rate of 2 kwacha = 1 pound.
Coins
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]
In 1964, coins were issued in copper-nickel and in the denominations of 6d, 1/?, 2/? and 2/6. All bore the portrait of
Hastings Banda
. 1d coins were introduced in 1967. The 1d had a smooth edge whereas all the other coins had 4×4 interrupted milling.
Banknotes
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]
On 6 July 1964, Nyasaland became independent from Britain and was renamed Malawi. For two years,
Elizabeth II
, remained head of state as
Queen of Malawi
. Upon becoming a republic in 1966, Mala?i became a single-party state under the presidency of
Hastings Kamuzu Banda
, who remained president until 1994, when he was ousted from power. His portrait appears on the front of all notes issued during his three decades in office, with scenes on the back emphasizing agriculture's great importance to Malawi's economy. Notes during his presidency also carry watermarks (and later registration devices) of a rooster, the symbol of Banda's Malawi Congress Party. The first series of notes dated 1964 and issued by the
Reserve Bank of Malawi
consists of the denominations 5/?, 10/?, £1 and £5.
[1]
References
[
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]
- ^
Linzmayer, Owen (2012). "Malawi".
The Banknote Book
. San Francisco, CA: www.BanknoteNews.com.
External links
[
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]
Currency units named
pound
,
lira
, or similar
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Circulating
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Local alternative currency
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Defunct
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Historical antecedents (mass)
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See also
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