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.
01/01/2020: New Currency Symbol
A new currency symbol for the dobra, resembling the letters 'STD' with horizontal lines through them, was introduced for official use.
24/05/2018: Dobra Pegged to Euro
The dobra's exchange rate was pegged to the euro, aiming to stabilize the currency and boost economic cooperation with the European Union.
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.
01/01/2016: Introduction of Polymer Banknotes
São Tomé and Príncipe started issuing polymer banknotes as a means to enhance durability and reduce counterfeiting of the dobra.
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.
01/01/2010: Currency Redenomination
The third dobra was introduced, with 1 new dobra equalling 1,000 old dobras, aiming to simplify transactions and boost confidence in the currency.
10/04/2000: Introduction of New Kwacha Banknotes
Malawi introduced new banknotes with enhanced security features to combat counterfeiting and to modernize the currency.
01/01/1997: Introduction of the New Dobra
A new currency, the 'second dobra,' was introduced at a rate of 1,000 to 1 to combat hyperinflation and stabilize the economy.
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.
24/12/1979: First Currency Devaluation
The first devaluation of the dobra occurred, reducing its value by 53% as a result of economic instability and inflation.
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.
30/06/1977: Introduction of the Dobra
The São Tomé and Príncipe dobra was introduced as the official currency of the country after gaining independence from Portugal.
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.