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 RatesSep 21, 2018

Currency Buying Selling
EUR 845.3112 866.3649
GBP 952.1320 975.8461
USD 717.3990 735.2668
ZAR 50.1899 51.4399


Inflation Rates (%)Overall

12-Month 9.00 Jul - 2018
Non-Food: 8.70 Food: 9.50


Bank RatesDec 2017

Bank Rate 16