RBM Denies Plans to Introduce K10,000 Note
Malawi: The Reserve Bank of Malawi-RBM-has denied social media reports that it intends to introduce a K10,000 banknote.
Recently, social media has been flooded with reports that the Central Bank intends to issue a new note in addition to the K5,000 it issued a few months ago.
The country's central bank has recently introduced a K5,000 note as the highest store of value.
According to a statement issued by the bank on Wednesday and signed by its Governor Wilson Banda, the bank is considering a number of conditions before introducing a higher banknote.
Since then, the bank has urged the public to refrain from fabricating such stories, claiming that monetary issues are handled by the central bank.
(By Gloria Masanza-Kanyang'wa – Africa Brief)
[This story first appeared on Africa Brief https://africabrief.substack.com/p/rbm-denies-reports-it-plans-to-introduce?utm_source=substack&utm_medium=email]