Malawian Kwacha (MWK) vs. British Pound Sterling (GBP)

The difference in economies and currency…

On the left of the photo, all the coins are are worth 550 MWK. On the right, is GBP, which is almost its equivalent (currently worth around MWK 520).



Okay, it’s not exactly a fair comparison. Since I could have represented 1 GBP with 100 pennies but I hope it illustrates the point!

The Malawian Kwacha has had a turbulent time in recent years. Albeit, not as extreme as in Zimbabwe where they abandoned their currency altogether. But this volatility is the reality of economies in developing countries.

From Wikipedia:-

In May 2012, the Reserve Bank of Malawi devalued the kwacha by 34% and unpegged it from the United States dollar.[2]

Categories: Malawi, Volunteering, VSO | Tags: , | Leave a comment

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