South African rand malawian kwacha exchange rate history (ZAR MWK) December 2023

South African rand malawian kwacha history for December 2023. The highest quote for this month is 91.313 (21/12/2023) and the lowest 93.628 (25/12/2023). The difference between high and low is -2.54.

ZAR MWK average rate for December 2023 is 89.90593, the change between 01/12/2023 and 31/12/2023 is -0.63 %.

01 December 2023	1 ZAR = 89.17 MWK
02 December 2023	1 ZAR = 89.44 MWK
03 December 2023	1 ZAR = 89.44 MWK
04 December 2023	1 ZAR = 90.42 MWK
05 December 2023	1 ZAR = 88.79 MWK
06 December 2023	1 ZAR = 87.55 MWK
07 December 2023	1 ZAR = 88.70 MWK
08 December 2023	1 ZAR = 88.22 MWK
10 December 2023	1 ZAR = 87.84 MWK
11 December 2023	1 ZAR = 89.00 MWK
12 December 2023	1 ZAR = 87.40 MWK
13 December 2023	1 ZAR = 88.76 MWK
14 December 2023	1 ZAR = 89.48 MWK
15 December 2023	1 ZAR = 91.14 MWK
16 December 2023	1 ZAR = 90.86 MWK
17 December 2023	1 ZAR = 90.86 MWK
18 December 2023	1 ZAR = 92.35 MWK
19 December 2023	1 ZAR = 90.41 MWK
20 December 2023	1 ZAR = 90.91 MWK
21 December 2023	1 ZAR = 92.23 MWK
22 December 2023	1 ZAR = 91.67 MWK
23 December 2023	1 ZAR = 90.38 MWK
24 December 2023	1 ZAR = 90.38 MWK
25 December 2023	1 ZAR = 91.06 MWK
26 December 2023	1 ZAR = 91.16 MWK
27 December 2023	1 ZAR = 89.23 MWK
28 December 2023	1 ZAR = 90.80 MWK
29 December 2023	1 ZAR = 89.73 MWK

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.

23/03/2020: COVID-19 Pandemic Impact

The rand experienced significant volatility and depreciation as a result of the COVID-19 pandemic, affecting the country's economy and trade balance.

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.

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.

15/12/2008: Global Financial Crisis Impact

The rand plunged against major currencies due to the global financial crisis and concerns about South Africa's economic stability.

09/11/2001: Rand Weakens to Record Low

The rand weakened to an all-time low against the US dollar, due to global economic uncertainty and domestic political concerns.

10/04/2000: Introduction of New Kwacha Banknotes

Malawi introduced new banknotes with enhanced security features to combat counterfeiting and to modernize the currency.

01/01/1995: Establishment of Reserve Bank Independence

The South African Reserve Bank gained independence, allowing it to have more control over monetary policy.

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.

27/04/1994: First Democratic Elections

The first democratic elections were held in South Africa, marking the end of apartheid and bringing political stability, positively affecting the rand's value.

01/08/1982: Currency Decimalization

The rand was decimalized, with 1 rand being equal to 100 cents.

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.

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.

14/09/1961: Introduction of the Rand

The South African rand was introduced as the official currency, replacing the South African pound.

Historic South African rand Malawian kwacha