Malawi Money

Money

The local currency is the Malawi kwacha, abbreviated K or MK. The currency is freely convertible (if difficult to get rid of outside the country) and, as of May 2006, trades at around 138 kwacha to the US dollar. US dollars will also be accepted by almost everybody, particularly for larger purchases. For the current exchange rate visit Zikomo.net. In Blantyre and Llilongwe try Victoria Forex Bureau. Watch out for kwacha from neighboring Zambia, worth less than 1/20th of the Malawi version! Malawi Kwacha are exchangeable in the Zambian capital Lusaka, and at banks close to the border. Credit card acceptance is spotty. Visa and MasterCard are accepted by larger hotels, including some ATM machines, but you can leave AmEx or anything else at home. Travellers cheques can be changed in banks, forex bureaus and in some high-end hotels. The number of hotels accepting payment by travellers cheque seems to be shrinking. Don't rely on them unless you have spoken to the hotel. US dollars cash, is your best bet, and it gives a better exchange rate.