MWK (Malawian Kwacha)

DEFINITION of 'MWK (Malawian Kwacha)'

The currency abbreviation for the Malawian kwacha (MWK), the currency for Malawi. The Malawian kwacha is made up of 100 tambala and is often presented with the symbol MK. The name kwacha comes from the word "dawn" in Chichewa, which along with English, is the official language of Malawi.

BREAKING DOWN 'MWK (Malawian Kwacha)'

From Malawi's independence in 1964, the Malawian pound was the currency of Malawi. The pound remained the currency until 1971, when the Malawian kwacha replaced the pound at a rate of 2:1. At the time of this change, the currency of Malawi was decimalized.