Reserve Bank of Malawi

Treasury Bills

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Treasury Bills Tenors

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 RatesAug 18, 2017

Currency Buying Selling
EUR 840.1931 862.1534
GBP 923.2388 947.3696
USD 715.9110 734.6228
ZAR 53.9504 55.3605


Inflation Rates (%)Overall

12-Month 10.20 Jul - 2017
Non-Food: 12.70 Food: 7.40


Bank RatesDec 2016

3 Month Fixed Deposit Rate 9.76
Savings Deposit Rate 6.58
30 Day Call Deposit Rate 8.15
6 Month Fixed Deposit Rate negotiable
7 Day Call Deposit Rate 6.83
Fixed Deposit Rate (Max) negotiable


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