Malawi: Real effective exchange rate index (2010 = 100)

Key figures

What the numbers say

In 2025, Malawi's real effective exchange rate index (2010 = 100) rose 18.78 on 2024 (from 84.73 to 103.51).

Across the 30 yearly changes before that (1995 to 2024), the average change was −1.56 and a typical year strayed about 17.51 from that (the standard deviation). This year's change was 1.2 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.

On record, the biggest yearly rise was 51.02 in 1996 and the biggest yearly fall was 53.85 in 1994. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2016 to 2025 the straight-line trend is upward, about 3.03 a year. A straight line explains 70% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2025, Malawi had the 45th highest value of the 91 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Malawi in the 2025 ranking

• Belgium — 42nd of 91: 105.38
• Algeria — 43rd of 91: 104.65
• Equatorial Guinea — 44th of 91: 104.48
• St. Vincent and the Grenadines — 46th of 91: 103.43
• Pakistan — 47th of 91: 102.94
• Morocco — 48th of 91: 102.62

What this measures

Real effective exchange rate is the nominal effective exchange rate (a measure of the value of a currency against a weighted average of several foreign currencies) divided by a price deflator or index of costs. This indicator is an index series where 2010=100.

Limitations: Because of conceptual and data limitations, changes in real effective exchange rates should be interpreted with caution.

All 46 values

Real effective exchange rate index (2010 = 100) in nearby economies

• Burundi — 177.48 (2025)
• Cameroon — 112.86 (2025)
• Central African Republic — 128.12 (2025)
• Congo, Dem. Rep. — 139.31 (2025)
• Côte d'Ivoire — 100.9 (2025)
• Equatorial Guinea — 104.48 (2025)
• Gabon — 106.99 (2025)
• Gambia, The — 102.44 (2025)
• Ghana — 86.18 (2025)
• Lesotho

More financial sector data for Malawi

• DEC alternative conversion factor (LCU per US$) — US$1,751 (2025)
• Official exchange rate (LCU per US$, period average) — US$1,161 (2023)
• Net domestic credit (current LCU) — 7.84 trillion (2024)
• Net foreign assets (current LCU) — -1.65 trillion (2024)
• Broad money (current LCU) — 5.34 trillion (2024)
• Claims on central government (annual growth as % of broad money) — 49.15% (2024)
• Claims on private sector (annual growth as % of broad money) — 9.6% (2024)
• Broad money (annual % growth) — 45.13% (2024)
• Broad money to total reserves ratio — 3.46 (2020)
• Consumer price index (2010 = 100)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
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Questions people ask

What is Malawi's real effective exchange rate index (2010 = 100)?

103.51 in 2025, according to the World Bank (World Development Indicators).

How has it changed since 1980?

It is down 48.33% from 200.34 in 1980 (1.46% a year on average, compounded). The highest value was 214.61 in 1984 and the lowest 65.35 in 2013.

How does Malawi rank?

45th highest of 91 economies with data for 2025.

Is the latest change in real effective exchange rate index (2010 = 100) unusual for Malawi?

In 2025, Malawi's real effective exchange rate index (2010 = 100) rose 18.78 on 2024 (from 84.73 to 103.51). Across the 30 yearly changes before that (1995 to 2024), the average change was −1.56 and a typical year strayed about 17.51 from that (the standard deviation). This year's change was 1.2 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.

Source

World Bank, World Development Indicators, indicator PX.REX.REER, licensed CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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