| Unit | |
|---|---|
| Symbol | £ |
| Denominations | |
| Subunit | |
| 1⁄20 | shilling |
| 1⁄240 | penny |
| Symbol | |
| shilling | s or /– |
| penny | d |
| Banknotes | 5/–, 10/–, £1, £5 |
| Coins | 1d, 6d, 1/–, 2/–, 2/6 |
| Demographics | |
| Date of withdrawal | 1971 |
| Replaced by | Malawian kwacha |
| User(s) | Malawi |
| Issuance | |
| Central bank | Reserve Bank of Malawi |
| Website | www |
| This infobox shows the latest status before this currency was rendered obsolete. | |
Thepound was the currency ofMalawi until 1971. From 1932, Malawi (then known asNyasaland) used theSouthern Rhodesian pound. In 1955, a new currency was introduced, theRhodesia and Nyasaland pound. This was replaced by the Malawian pound in 1964, following Malawi's independence. The pound was subdivided into 20shillings, each of 12pence. The pound was replaced by thedecimalkwacha in 1971, at a rate of 2 kwacha = 1 pound.
In 1964, coins were issued in copper-nickel and in the denominations of 6d, 1/–, 2/– and 2/6. All bore the portrait ofHastings Banda. 1d coins were introduced in 1967. The 1d had a smooth edge whereas all the other coins had 4×4 interrupted milling.
On 6 July 1964, Nyasaland became independent from Britain and was renamed Malawi. For two years,Elizabeth II, remained head of state asQueen of Malawi. Upon becoming a republic in 1966, Malaŵi became a single-party state under the presidency ofHastings Kamuzu Banda, who remained president until 1994, when he was ousted from power. His portrait appears on the front of all notes issued during his three decades in office, with scenes on the back emphasizing agriculture's great importance to Malawi's economy. Notes during his presidency also carry watermarks (and later registration devices) of a rooster, the symbol of Banda's Malawi Congress Party. The first series of notes dated 1964 and issued by theReserve Bank of Malawi consists of the denominations 5/–, 10/–, £1 and £5.[1]
| Preceded by: Rhodesia and Nyasaland pound Reason: independence Ratio: at par | Currency ofMalaŵi 1964 – 1971 | Succeeded by: Malawian kwacha Ratio: 2 kwacha = 1 pound |
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