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

South African rand malawian kwacha history for October 2023. The highest quote for this month is 61.018 (17/10/2023) and the lowest 61.534 (18/10/2023). The difference between high and low is -0.85.

ZAR MWK average rate for October 2023 is 59.50404, the change between 01/10/2023 and 31/10/2023 is -4.93 %.

01 October 2023	1 ZAR = 57.03 MWK
02 October 2023	1 ZAR = 57.18 MWK
03 October 2023	1 ZAR = 55.49 MWK
04 October 2023	1 ZAR = 56.09 MWK
05 October 2023	1 ZAR = 58.90 MWK
06 October 2023	1 ZAR = 59.07 MWK
07 October 2023	1 ZAR = 59.85 MWK
09 October 2023	1 ZAR = 59.44 MWK
10 October 2023	1 ZAR = 60.30 MWK
11 October 2023	1 ZAR = 60.10 MWK
12 October 2023	1 ZAR = 60.34 MWK
13 October 2023	1 ZAR = 59.86 MWK
16 October 2023	1 ZAR = 60.94 MWK
17 October 2023	1 ZAR = 60.56 MWK
18 October 2023	1 ZAR = 60.82 MWK
19 October 2023	1 ZAR = 60.63 MWK
20 October 2023	1 ZAR = 59.84 MWK
21 October 2023	1 ZAR = 60.58 MWK
22 October 2023	1 ZAR = 60.25 MWK
23 October 2023	1 ZAR = 60.63 MWK
24 October 2023	1 ZAR = 60.10 MWK
25 October 2023	1 ZAR = 59.34 MWK
26 October 2023	1 ZAR = 58.61 MWK
27 October 2023	1 ZAR = 59.21 MWK
28 October 2023	1 ZAR = 60.30 MWK
29 October 2023	1 ZAR = 60.30 MWK
30 October 2023	1 ZAR = 60.54 MWK
31 October 2023	1 ZAR = 59.84 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