The kwacha replaced other types of currency, namely the British pound sterling, the South African rand, and the Rhodesian dollar, that had previously circulated through the Malawian economy.

[3] In 2005, administrative measures were put in place by Bingu wa Mutharika[4] to peg the exchange rate with other currencies.

In May 2012, the Reserve Bank of Malawi devalued the kwacha by 34% and unpegged it from the United States dollar.

In January 2007, 5 and 10 kwacha coins, which actually bear a mint date of 2006, were also released into circulation.

According to an article in the Nyasa Times dated 9 March 2012, within the next six months the Reserve Bank of Malawi would introduce a whole new series of notes, including a 1,000-kwacha note, twice the largest denomination currently in circulation.

The new kwacha had the face of the first president Kamuzu Banda on the front and the back carries a depiction of Mzuzu maize silos.

However, it is reported that the building is, in fact, the Machinga Teacher's Training College.

[13] The Reserve Bank of Malawi is going to revise its new family of notes so that they are more "blind friendly".