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BER | Country Guides | Malawi - MWK
Foreign exchange guide to Malawi and the Malawian Kwacha (MWK)
What's in this Malawi currency guide?
The above interactive chart shows the USD/MWK Exchange Rate, Trends and Alerts - UPâ–˛ DOWNâ–Ľ HIGH LOW
USD/MWK 10 year historic rates & change to 26-Feb-2021 : 781.08
$10,000 USD = MK7,810,840 MWK
Converted at USD/MWK interbank rate, compare Send Money and Currency Exchange exchange rates.
The domestic currency in Malawi is the Malawian Kwacha.
The three letter currency code for the Malawian Kwacha is MWK — symbol is MK.
It is the domestic currency in   Malawi.
No, the Malawian Kwacha is freely available and convertible. See guide: What is a closed currency?
Save money and time by Ordering your Malawian Kwacha online from Travelex, you get better rates and can pick up the MWK cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Malawian Kwacha otherwise you may get much worst exchange rates.
To get a good (and fair) exchange rate when sending money to Malawi you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
When sending money to Malawi it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
Use the above Send to Malawian Kwacha calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Malawian Kwacha deposited into the recipient bank account and less margins and fees kept by the banks!