Reserve Bank of Malawi has today, February 24th released a 5, 000 kwacha banknote into circulation.
According to the spokesperson for the Central Bank Ralph Tseka, the bank thinks it has done adequate awareness on features of the new banknote.
Addressing the press, Tsoka said ahead of throwing the banknote into circulation Reserve Bank has conducted sensitization campaigns to raise awareness on features on the new banknote.
Meanwhile, the spokesperson downplayed fears that the introduction of the new banknote will trigger a rise in the inflation rate.
The introduction of the 5000 Malawi Kwacha Banknote was announced in November last year when the bank also announced the introduction of an upgraded 2000 Kwacha Banknote.
RBM Governor Dr. Wilson Banda said the bank was following its currency management policy that provides guidance which states that the high banknote in the economy should not account for more than 60 percent of the total value of the currency in circulation.
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