Malawians have been warned against acting on a fake exchange rate announcement that claimed the Reserve Bank of Malawi (RBM) had sharply weakened the kwacha.
The fake announcement, claimed that the RBM has adjusted claimed that the selling exchange rate had been adjusted from K1,750 to K3,200 per US dollar, effective October 28, 2026.
The notice raised fears of rising prices among consumers and create uncertainty for businesses that depend on imported goods.
However, the central bank has on Thursday disowned and dismissed the notice.
“The document is FAKE and was not issued by the Reserve Bank of Malawi,” the Bank said in a public notice.
Although the announcement was false, the circulation of such information raises concerns about how unverified economic news could influence decisions by traders, importers and ordinary consumers.
For households already struggling to meet daily expenses, rumours of a sharp exchange rate adjustment could create fears that prices of essential commodities, including cooking oil, fuel, medicines and other imported products, may rise.
RBM has urged the public, businesses and market participants to verify its announcements through official communication channels, including its website and verified social media platforms, before acting on information about monetary and foreign exchange developments.
The Bank has also asked anyone who encounters suspicious publications claiming to originate from the institution to report them immediately.
