The Reserve Bank of Malawi (RBM) has strongly refuted widespread rumors claiming a significant devaluation of the Malawian Kwacha.
Social media platforms have been abuzz with claims that the Kwacha has depreciated by 25%, equating to a K25 drop for every K100.
However, RBM Deputy Governor Macdonald Mafuta Mwale dismissed these allegations as baseless and misleading. Speaking to various media outlets, Mafuta Mwale clarified that the purported devaluation figures are from 2022 and do not reflect the current state of the economy.
He assured Malawians that the Kwacha remains stable, trading at K1,751 against the United States Dollar.
The RBM has urged the public to verify information before sharing it to avoid unnecessary panic.
Source; Malawi24
