Nigerian Naira in Malawian Kwacha

NGN Nigerian Naira

Country of application:
Nigeria

Coin denominations in circulation:
50 kobo, 1, 2.

Denominations of banknotes in circulation:
5, 10, 20, 50, 100, 200, 500, 1000 naira.

History reference:
The Nigerian Naira is the currency of Nigeria, the name of the currency comes from the name of the state and the river. The naira was put into circulation on January 1, 1973 instead of the Nigerian p...ound, 1 pound = 2 naira. Thus, Nigeria became the last African state to abandon the duodecimal monetary system. Rampant inflation has occurred in Nigeria. The Central Bank of Nigeria said they were trying to keep the annual inflation rate below 10%. In 2011, CBN increased its key interest rate 6 times from 6.25% to 12%. On January 31, 2012, CBN decided to keep its key interest rate at 12% to reduce the impact of inflation due to cuts in fuel subsidies. On October 25, 2021, eNaira, an electronic analogue of the national currency, was launched in Nigeria. eNaira is not a cryptocurrency, all transactions are controlled by financial government agencies.

MWK Malawian Kwacha

Country of application:
Malawi

Coin denominations in circulation:
1, 2, 5, 10, 20, 50 tambala.

Denominations of banknotes in circulation:
1, 5, 10 kwacha.

History reference:
The Malawian kwacha is the national currency of the Republic of Malawi. Banknotes in denominations of 50 tambals, 1, 5, 10, 20, 50, 100, 200 and 500 Malawian kwachas are in circulation, in total more... than 35 banknotes of various modifications. However, in real money circulation, there are only banknotes of the series issued in 1997. There are also coins in denominations of 1, 2, 5, 10, 20, 50 tambals and 1 kwacha. Malawian kwacha banknotes were printed at the Royal Mint of Great Britain. The design of Malawian coins is quite interesting for specialists and numismatists. On the reverse of all Malawian coins, in addition to the digital denomination and the name of the state, animals are depicted that live on the territory of the country.