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.
01/05/2016: Currency Floatation
The Malawian government allowed the kwacha to float freely against other currencies, leading to a significant depreciation of the currency.
15/01/2015: Removal of Minimum Exchange Rate
The Swiss National Bank unexpectedly abandoned the minimum exchange rate, causing the Swiss franc (CHF) to surge in value.
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.
06/09/2011: Implementation of Minimum Exchange Rate
The Swiss National Bank imposed a minimum exchange rate pegging the Swiss franc (CHF) to the Euro to prevent excessive appreciation.
10/04/2000: Introduction of New Kwacha Banknotes
Malawi introduced new banknotes with enhanced security features to combat counterfeiting and to modernize the currency.
13/09/1999: Introduction of Euro
Switzerland decided not to join the Eurozone and maintain the Swiss franc (CHF) as its official currency.
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.
08/05/1973: Floatation of Swiss Franc
Switzerland abandoned the fixed exchange rate system, allowing the Swiss franc (CHF) to float freely against other currencies.
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.
01/05/1936: Introduction of Swiss National Bank
The Swiss National Bank was established as the central bank responsible for issuing and managing the Swiss franc (CHF).
24/11/1907: Gold Standard Referendum
Switzerland voted to adopt the gold standard, making the Swiss franc (CHF) fully convertible into gold.
06/06/1850: Currency Act of 1850
The Swiss franc (CHF) was introduced as the official currency of Switzerland.