03/06/2020: COVID-19 Impact on the Shilling
The Ugandan Shilling experienced a significant decline in value due to the economic impact of the COVID-19 pandemic.
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.
01/09/2013: Withdrawal of Old Currency Series
The old series of Ugandan Shilling notes were phased out and replaced with the new currency series.
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.
01/07/2010: Issue of New Currency Series
Uganda issued a new series of currency notes with enhanced security features to reduce counterfeiting.
02/05/2003: Introduction of Coins
Uganda introduced coins denominated in Shillings to replace lower-value notes and facilitate transactions.
10/04/2000: Introduction of New Kwacha Banknotes
Malawi introduced new banknotes with enhanced security features to combat counterfeiting and to modernize the 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.
15/05/1987: Introduction of the 500 Shilling Note
A new 500 Shilling note was introduced to combat the rapid inflation and devaluation of the currency.
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.
05/08/1972: Idi Amin's Currency Change
President Idi Amin ordered the demonetization of old Ugandan Shilling notes and replaced them with new ones, causing an economic crisis.
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.
15/06/1966: Introduction of the Ugandan Shilling
The Ugandan Shilling was introduced as the official currency of Uganda following its independence from British colonial rule.