What does MWK mean in CURRENCIES
MWK is the abbreviation for Malawi Kwacha. This is the official currency of Malawi, a small country in South East Africa. MWK is used to pay for goods and services both locally and internationally. Despite its small size, it has some of the most stable economies in the region due to its large agricultural sector. The Malawian Kwacha, as it’s locally known, has always been pegged to the US Dollar.
MWK meaning in Currencies in Regional
MWK mostly used in an acronym Currencies in Category Regional that means Malawi Kwacha
Shorthand: MWK,
Full Form: Malawi Kwacha
For more information of "Malawi Kwacha ", see the section below.
» Regional » Currencies
Meaning
The meaning of the abbreviation MWK is ‘Malawi Kwacha’ which is the official currency of Malawi. It was first introduced in 1971, when Malawi became an independent nation from Britain and Nigeria. In 2012, it was pegged against a basket of currencies such as the US dollar, the Euro and the British Pound sterling. As such, exchange rates remain relatively stable despite market volatility.
Full Form
The full form of MWK stands for ‘Malawian Kwacha’ which is a decimalized unit formed into 100 tambalas each with one pesa or two moharas (or twenty-five bahi) attached. The Malawian economy relies heavily on agriculture as its major source of income with tobacco being its leading export crop. The kwacha provides stability and strength to transactions conducted within this African nation.
Essential Questions and Answers on Malawi Kwacha in "REGIONAL»CURRENCIES"
What is the currency of Malawi?
The currency of Malawi is the Malawian Kwacha (MWK).
How much are MWK worth in USD?
As of May 2019, one MWK equates to 0.0013 USD.
Is the MWK a widely accepted currency?
While it is not as widely accepted as other more common currencies, the MWK is still used and exchanged with most countries.
Where can I find an exchange rate for MWK?
You can easily find exchange rates for MW energy on many online websites which specialize in foreign exchange rates.
Does Malawi have other forms of currency besides the Kwacha?
No, there are no other official forms of currency in Malawi besides the Kwacha.
Is it safe to carry around large amounts of cash in Malawi?
Although it is generally safe to bring cash with you while traveling, it is recommended that you take precautionary measures such as carrying copies of important documents and monitoring your spending habits while abroad.
Can I use my debit or credit card while in Malawi?
It depends on your bank's international acceptance policy. Most banks will allow you to use your card overseas but be prepared to pay additional fees when doing so.
Final Words:
In conclusion, MWK stands for ‘Malawian Kwacha’ which is the official currency in use within Malawi since 1971 when they achieved independence from Britain and Nigeria. The kwacha provides stability and strength to transactions conducted within this African nation which contributes to having some of the most stable economies in that region despite it's small size.