{"id":55912,"date":"2024-01-04T20:26:26","date_gmt":"2024-01-04T20:26:26","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/?p=55912"},"modified":"2024-01-04T06:05:24","modified_gmt":"2024-01-04T06:05:24","slug":"malawi-central-bank-not-introducing-new-mk10000-banknote","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/malawi-central-bank-not-introducing-new-mk10000-banknote","title":{"rendered":"Malawi Central Bank not introducing new MK10,000 banknote"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Malawi. <\/strong><\/span>The country\u2019s central bank, Reserve Bank of Malawi (RBM) Governor Wilson Banda on Friday, November 24, 2023, disputed reports that the bank plans to introduce a new MK10,000 banknote. Banda has described such rumours as FAKE and that the bank is not even contemplating of the move.<\/p>\n<p>The governor was addressing the news conference at the bank\u2019s headquarters in the capital Lilongwe arguing what is circulating on social media is an old MK10 note with three zeros added to it.<\/p>\n<p>Banda therefore asked local media to be factual and accurate when reporting financial matters saying misrepresentation of the same can attract reactions on the market which could pose a burden on the consumers.<\/p>\n<p>The governor cited an article from one of the local newspapers which misquoted the current US Dollar exchange rate against kwacha as MK2700, instead of its official rate of MK1,700.<\/p>\n<p>This follows a 44% devaluation of the Malawi Kwacha currency two weeks ago. He said such misrepresentation is dangerous as it has the potential of moving traders to adjust prices which has a direct effect on the consumers.<\/p>\n<p>\u201cPeople trust the media and take whatever has been published seriously, if you are not sure, my office is readily available to provide you with the actual figures,\u201d said the Central Bank governor, who said despite a few misrepresentations, the media continues doing a great job.<\/p>\n<p>On the realignment of the local currency, Banda described the move as necessary, saying the misalignment was punitive on the side of the exporters, as they were paid less. He then said the realignment has come as an incentive to the exporters who were losing before due to misalignment.<\/p>\n<p>The Central Bank governor said the increase in prices of imported goods and goods with imported contents is a true reflection of their value as the currency used to import them is trailing at a required rate.<\/p>\n<p>He noted with concern an increase in prices of goods beyond the percentage at which the kwacha was devalued, as well as an increase in prices of locally produced goods without foreign content, saying such is unjustifiable.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/malawi\">Malawi<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Malawi. The country\u2019s central bank, Reserve Bank of Malawi (RBM) Governor Wilson Banda on Friday, November 24, 2023, disputed reports that the bank plans to introduce a new MK10,000 banknote. Banda has described such rumours as FAKE and that the bank is not even contemplating of the move. The governor was addressing the [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":55911,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,410],"tags":[233,371,234],"class_list":["post-55912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-to-homepage","tag-africa-press","tag-africa-press-malawi","tag-malawi"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Malawi Central Bank not introducing new MK10,000 banknote - Malawi<\/title>\n<meta name=\"description\" content=\"The country\u2019s central bank, Reserve Bank of Malawi (RBM) Governor Wilson Banda on Friday, November 24, 2023, disputed re ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawi-central-bank-not-introducing-new-mk10000-banknote\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Malawi Central Bank not introducing new MK10,000 banknote\" \/>\n<meta property=\"og:description\" content=\"The country\u2019s central bank, Reserve Bank of Malawi (RBM) Governor Wilson Banda on Friday, November 24, 2023, disputed re ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawi-central-bank-not-introducing-new-mk10000-banknote\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-04T20:26:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2024\/01\/sm_1704335596.129628.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"324\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawi-central-bank-not-introducing-new-mk10000-banknote#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawi-central-bank-not-introducing-new-mk10000-banknote\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Malawi Central Bank not introducing new MK10,000 banknote\",\"datePublished\":\"2024-01-04T20:26:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawi-central-bank-not-introducing-new-mk10000-banknote\"},\"wordCount\":369,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawi-central-bank-not-introducing-new-mk10000-banknote#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2024\/01\/sm_1704335596.129628.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"Malawi\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawi-central-bank-not-introducing-new-mk10000-banknote#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawi-central-bank-not-introducing-new-mk10000-banknote\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawi-central-bank-not-introducing-new-mk10000-banknote\",\"name\":\"Malawi Central Bank not introducing new MK10,000 banknote - 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