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20 Kwacha
| Issuer | Reserve Bank of Malawi |
|---|---|
| Year | 2014-2020 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Log in to see details |
| Composition | Log in to see details |
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| Designer(s) | Log in to see details |
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| In circulation to | Log in to see details |
| Reference(s) | P#63 |
| Obverse description | Portrait of Inkosi ya Makhosi M'mbelwa II (Lazalo Mkhuzo Jere) at right, with a vignette of the Reserve Bank of Malawi headquarters building in Lilongwe at left, set against a multicolour guilloche underprint. The denomination numeral and bank title appear in the surrounding lettering. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Log in to see details |
| Reverse lettering | TWENTY KWACHA MACHINGA TEACHERS TRAINING COLLEGE RESERVE BANK OF MALAWI 20 KWACHA |
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| Comments |
The P#63 series was part of Malawi's broader push in the early 2010s to modernize its note architecture following years of severe inflationary pressure — the kwacha was rebased in 2012 at a ratio of 1:1 after the Reserve Bank finally floated the currency, ending a prolonged period of managed exchange rates that had made the official rate nearly fictional against the parallel market.
Cotton substrate with watermark and thread places this squarely in the lower-security tier of the post-rebase series. No metallised foil, no color-shifting ink — a cost-conscious specification for a denomination that circulates hard.