13/05/2020: Introduction of New Thousand Kwacha Banknotes
Malawi introduced new banknotes with higher denominations to address issues of inflation and to streamline transactions in a cash-based economy.
16/07/2019: IMF Bailout Package
Pakistan reached an agreement with the IMF for a three-year, $6 billion bailout package to address its balance of payments crisis, affecting the value of the Pakistani rupee.
01/05/2016: Currency Floatation
The Malawian government allowed the kwacha to float freely against other currencies, leading to a significant depreciation of the currency.
11/12/2013: IMF Loan Program
Pakistan signed a loan agreement with the International Monetary Fund (IMF) to stabilize its economy, resulting in devaluation of the Pakistani rupee.
07/08/2012: Introduction of New Kwacha Coins
Malawi introduced new coins to replace smaller denominations of the kwacha banknotes, facilitating transactions and reducing the cost of producing money.
01/12/2008: Global Financial Crisis
The global financial crisis led to a depreciation of the Pakistani rupee against major international currencies due to economic instability.
10/04/2000: Introduction of New Kwacha Banknotes
Malawi introduced new banknotes with enhanced security features to combat counterfeiting and to modernize the currency.
28/05/1999: Introduction of State Bank of Pakistan
The State Bank of Pakistan was given full autonomous control over the monetary policy, which had a significant impact on the value of the Pakistani rupee.
14/06/1994: Malawi's First Multiparty Democratic Elections
Malawi held its first multiparty democratic elections, leading to a political and economic transition which affected the value of the kwacha.
01/09/1979: First Devaluation of the Kwacha
The Malawian government devalued the kwacha by 30% in response to economic challenges and to promote exports.
16/12/1971: Separation of East Pakistan
Following the separation of East Pakistan and the formation of Bangladesh, the Pakistani rupee underwent a major devaluation.
06/07/1971: Introduction of the Malawian Kwacha
The Malawian Kwacha (MWK) was introduced as the official currency of Malawi, replacing the Malawian pound at a rate of 2 kwacha = 1 pound.
01/07/1955: Replacement of Indian Rupee
The Pakistani rupee replaced the Indian rupee as the official currency of Pakistan after the two countries separated.
17/08/1947: Independence of Pakistan
The Pakistani rupee was introduced as the official currency of Pakistan after the country gained independence from British rule.