Understanding the Rwandan Franc Currency and Exchange

The Rwandan Franc is the official currency of Rwanda and is subdivided into 100 centimes. It's a relatively stable currency, with a fixed exchange rate to the US dollar.

The Rwandan Franc is issued by the National Bank of Rwanda, which is responsible for maintaining the country's monetary policy. This includes setting interest rates and regulating the money supply.

In terms of exchange, the Rwandan Franc can be exchanged for other currencies at banks, currency exchange offices, and some hotels.

Here's an interesting read: Rwanda Currency to Usd

The Rwandan franc has a rich history dating back to 1916, when Belgium occupied the previously German colony and introduced the Belgian Congo franc as the new currency.

Rwanda used the Belgian Congo franc until 1960, when the Rwanda and Burundi franc was introduced, marking a significant change in the country's monetary system.

The Rwandan franc began to be issued by the country itself in 1964, two years after Rwanda gained independence.

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In 1969, Rwanda introduced aluminum 1 franc coins, which were later joined by 2 and 5/2 franc coins in 1970.

The country also introduced brass 50 and 20 franc coins in 1977, expanding the range of coins available.

A proposal exists to introduce a common currency, a new East African shilling, for the five member states of the East African Community, although it has yet to be implemented.

Consider reading: South African Monetary Unit

The Rwandan franc has a fascinating history when it comes to its banknotes. In 1964, Rwanda began issuing its own currency, starting with provisional notes created by hand-stamping and embossing Rwanda-Burundi banknotes.

These provisional notes were exclusively legal in Rwanda and featured an embossed stamp with the "Bank of Rwanda" and the signature of then-governor Jean-Baptiste Habyarimana. The notes were available in various denominations, including 20 to 100 francs, which were hand-stamped, and 500 and 1,000 francs, which were embossed.

The first regular issues of the Rwandan franc were introduced in 1964 and continued until 1976. During this period, the 20 and 50 franc notes were replaced by coins in 1977, and the 5,000 franc note was introduced in 1978.

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In 2007, the nation's first-ever 2,000 franc note was introduced, followed by the replacement of the 100 franc note with a bimetallic coin in 2008. The notes' legal tender status was revoked on December 31, 2009.

The National Bank of Rwanda has continued to issue new banknotes with enhanced security features. For example, the 500 franc note was redesigned in 2013 to feature cows on the front and students with XO computers on the back.

Here's a list of the current banknotes of the Rwandan franc:

In 2024, the National Bank introduced updated 2000 and 5000 franc notes with enhanced security measures, including the dynamic, color-shifting IGNITE thread and the GEMINI feature, which reveals intricate patterns under ultraviolet light.

The Rwandan franc is a currency you might not use every day, but it's interesting to know how its value changes over time. The current exchange rate for Rwandan franc to US dollars is 0.001, reflecting a -0.127% change since yesterday.

If you need to convert Rwandan francs to US dollars, it's quite straightforward. Simply type in the box how much you want to convert, and our currency converter will show you the current RWF to USD rate and how it's changed over the past day, week or month.

The value of Rwandan franc has remained relatively stable over the past week, with a 0.146% increase compared to its value 7 days ago. This means that if you exchanged 1 Rwandan franc for US dollars last week, you'd get slightly more US dollars today.

To convert Rwandan francs to US dollars, you can follow these simple steps:

The Rwandan Franc is the official currency used in Rwanda, and it's subdivided into a hundred centimes.

You can use banknotes and coins as legal tender in the country.