The Reserve Bank of Malawi has announced that it will introduce a new high denomination K2000 banknote.
The central bank has confirmed that the new banknote, worth around US $2.70, will enter circulation on 19 December 2016.
It will join the existing series of banknotes, consisting of the K20, K50, K100, K200, K500 and K1000.
A press release released by the Reserve Bank of Malawi advises that the new note is being introduced in line with recent economic developments and as part of the Bank’s strategy towards minimising currency issuance costs, saving foreign exchange and increasing operational efficiency.
The note is predominantly yellow in colour and includes portraits of Reverend John Chilembwe – the leader of the Chilembwe uprising rebellion against British colonial rule in 1915 – throughout its design.
The new note is said to include up-to-date security features to help minimise the risk of counterfeits, and include:
- a watermark portrait of Reverend John Chilembwe
- SICPA’s SPARK® LIVE optically variable ink feature, in the form of a fish
- tactile intaglio ink features
- a holographic foil stripe, again including a portrait of Reverend John Chilembwe as well as the denomination 2000 and the Bank’s logo and name
- tactile circles located at the bottom left of the front of the banknote to enable those with visual impairments to identify the note’s denomination
- RollingStar® Cube security thread by Louisenthal
To read the full press release by the Reserve Bank of Malawi click here.