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K44bn bank notes cost itches Reserve Bank of Malawi
Summary by Times Malawi
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K44bn bank notes cost itches Reserve Bank of Malawi
By Kingsley Jassi: The cost of printing new bank notes to replace the worn out ones rose to about K44 billion last year due to high use of hard cash. Reserve Bank of Malawi (RBM) Governor George Partridge said at a press briefing in Lilongwe that such costs have a toll on currency management expenses, hence the decision to introduce the coins that replace K50 and K20 banknotes next month. The Governor, who dismissed any devaluation rumours follo…
·Malawi
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