Reserve Bank of Malawi

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91 Days Treasury Bills

The 91 Days Treasury Bills are debt obligations issued by RBM on behalf of the Government of Malawi for the 3 months either a discount or face value, at a competitive auction on a weekly basis. At a discount means the instrument is sold to an investor, at below the face value. The difference between the discounted price and the face value determines the yield/interest earned. The yield on a 91-day Treasury Bils is the average 91-day discount rate.

Lender use the 3 months average rate, to adjust interest rates on the loans and corperate bond as economic conditions change. The then add a certain number of percentage points called a margin, which doesn't vary, to it to establish the interest rate they must pay or earn in the case of a corperate bond tied to it also goes up. Blow are the 91-day Treasury Bill Average Rates for the year 1994 to date:

Exchange RatesJan 22, 2021

Currency Buying Selling
EUR 929.0339 947.6127
GBP 1045.7072 1066.6192
USD 763.5686 778.8384
ZAR 50.8260 51.8424

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Inflation Rates (%)Overall

12-Month 7.60 Dec - 2020
Non-Food: 4.90 Food: 10.50

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Bank Rates

Effective Month
Policy Rate 12.00 Nov 2020
Reference Rate 12.10 Jan 2021
Lending Rate (Min) 12.10 Jan 2021
Lending Rate (Max) 23.95 Dec 2020
Savings Deposit Rate 4.35 Dec 2020

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