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 RatesApr 18, 2019

Currency Buying Selling
EUR 818.4855 842.0653
GBP 945.1421 972.3708
USD 724.5800 745.4544
ZAR 51.8654 53.3596


Inflation Rates (%)Overall

12-Month 7.90 Feb - 2019
Non-Food: 5.40 Food: 10.80


Bank RatesFeb 2019

Bank Rate 14.50
Lending Rate (Min) 14.90
Lending Rate (Max) 26.25
Saving Deposit Rate (Min) 4.36
Maximum Lending Rate 26.25
Mortgages Commercial 21.50