K2000 note officially introduced: Reserve Bank governor says expect another higher note

Malawi Reserve governor Charles Chuka says the introduction of new note, k2000 which is to roll on December 19, is not automatic that things will go better if depreciation of kwacha continues.

The new note was officially set to public yesterday in Lilongwe where President Peter Mutharika presided, Chuka worried over how kwacha is trading to dollar at the moment which may lead to introduction another higher note.

“It is very sad that our currency is not doing well and if this continues expect another note” said Chuka.

The kwacha is currently trading near a reach K800 to the dollar while inflation hovers around 20 percent.

While Mutharika has pleaded to Malawians to take care of this new note as it has cost the government more to print it.

“May I urge fellow Malawians to handle this note with great care, don’t put it in wet places. We don’t need to run into another loss as printing this note cost a lot” said Mutharika.