was the currency of Malaŵi
. From 1932
, Malaŵi (then Nyasaland
) used the Southern Rhodesian pound
. In 1955, a new currency was introduced, the Rhodesia and Nyasaland pound
. This was replaced by the Malaŵian pound in 1964, following Malaŵi's independence. The pound was subdivided into 20 shillings
, each of 12 pence
. The pound was replaced by the kwacha
in 1971, at a rate of 2 kwacha = 1 pound.
In 1964, coins were issued in copper-nickel and in the denominations of 6 pence, 1 shilling, 1 florin
(2 shillings) and ½ crown (2½ shillings). All bore the portrait of Hastings Banda
. In 1967, 1 penny coins were introduced. The 1 penny had a smooth edge where as all the other coins had 4×4 interrupted milling.
In 1964, the Reserve Bank of Malawi
introduced banknotes in denominations of 5 and 10 shillings, 1 and 5 pounds. All bore Hastings Banda's portrait.