Malawi dismisses Kwacha further devaluation rumour

The Reserve Bank of Malawi (RBM) has said it has no plans to further devalue the Malawian Kwacha as there is no reason to do so.

The Reserve Bank of Malawi (RBM) has said it has no plans to further devalue the Malawian Kwacha as there is no reason to do so.

Malawi Monetary Policy Committee will closely monitor inflation developments in the next few months, and stands ready to adjust the policy rate upwards should inflationary pressures persist.

The Reserve Bank of Malawi has announced a 25 percent devaluation of the Malawi Kwacha effective May 27th, 2022 to align to around the marker clearing level.