The Rwandan

franc The franc is any of various units of currency. One franc is typically divided into 100 centimes. The name is said to derive from the Latin inscription ''francorum rex'' (King of the Franks) used on early French coins and until the 18th centu ...

(

sign A sign is an object, quality, event, or entity whose presence or occurrence indicates the probable presence or occurrence of something else. A natural sign bears a causal relation to its object—for instance, thunder is a sign of storm, or ...

: FRw,National Bank of Rwanda.
Currency characteristics
" Accessed 2017-02-20. and possibly RF or R₣;

ISO 4217 ISO 4217 is a standard published by the International Organization for Standardization (ISO) that defines alpha codes and numeric codes for the representation of currencies and provides information about the relationships between individual ...

: RWF) is the

currency A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general ...

Rwanda Rwanda (; rw, u Rwanda ), officially the Republic of Rwanda, is a landlocked country in the Great Rift Valley of Central Africa, where the African Great Lakes region and Southeast Africa converge. Located a few degrees south of the Equator ...

. It is subdivided into 100 centimes.National Bank of Rwanda.
Legal tender
." Accessed 2011-02-25.

History

The franc became the currency of Rwanda in 1916, when Belgium occupied the previously German colony and the Belgian Congo franc replaced the

German East African rupie The Rupie was the currency of German East Africa between 1890 and 1916, continuing to circulate in the Tanganyika Territory until 1920. History The Indian rupee was the dominant currency used along the East African coast during the second half ...

. Rwanda used the currency of the Belgian Congo until 1960, when the

Rwanda and Burundi franc The Ruanda-Urundi franc was a currency issued for the Belgian mandate territory of Ruanda-Urundi in 1960–62 which continued to circulate within its successor states of Rwanda and Burundi until 1964. The currency replaced the Belgian Congo franc ...

was introduced. Rwanda began issuing its own francs in 1964, two years after gaining independence. A proposal exists to introduce a common currency, a new East African shilling, for the five member states of the

East African Community The East African Community (EAC) is an intergovernmental organisation composed of seven countries in the Great Lakes region of East Africa: the Democratic Republic of the Congo, the United Republic of Tanzania, the Republics of Kenya, Buru ...

. Whilst originally scheduled to occur by the end of 2012, as of December 2020, a common currency has still yet to be introduced.

Coins

In 1964, coins were introduced for 1, 5 and 10 francs, with the 1 and 10 francs in

cupronickel Cupronickel or copper-nickel (CuNi) is an alloy of copper that contains nickel and strengthening elements, such as iron and manganese. The copper content typically varies from 60 to 90 percent. ( Monel is a nickel-copper alloy that contains a mi ...

and the 5 francs in bronze. In 1969, aluminium 1 franc coins were introduced, followed in 1970 by and 2 francs also in aluminium. A reduced sized copper-nickel 10 franc coin was issued in 1974. Brass 20 and 50 francs were introduced in 1977. New series of 1 to 50 franc coins were issued in 2004 (dated 2003) and a new bimetallic coin of 100 francs was introduced in 2008 (dated 2007) *1 franc - 98% Aluminium, 2%

Magnesium Magnesium is a chemical element with the symbol Mg and atomic number 12. It is a shiny gray metal having a low density, low melting point and high chemical reactivity. Like the other alkaline earth metals (group 2 of the periodic ...

*5 francs - Bronze *10 francs - Bronze *20 francs -

Nickel Nickel is a chemical element with symbol Ni and atomic number 28. It is a silvery-white lustrous metal with a slight golden tinge. Nickel is a hard and ductile transition metal. Pure nickel is chemically reactive but large pieces are slow t ...

plated Plating is a surface covering in which a metal is deposited on a conductive surface. Plating has been done for hundreds of years; it is also critical for modern technology. Plating is used to decorate objects, for corrosion inhibition, to improv ...

steel Steel is an alloy made up of iron with added carbon to improve its strength and fracture resistance compared to other forms of iron. Many other elements may be present or added. Stainless steels that are corrosion- and oxidation-resistan ...

*50 francs - Nickel-plated steel *100 francs - Nickel-plated steel ring and Copper-plated steel centre

Banknotes

In 1964, provisional notes were created for use in Rwanda by handstamping (20 to 100 francs) or embossing (500 and 1,000 francs) Rwanda-Burundi notes bearing their original dates and signatures. These were followed by regular issues for the same amounts dated 1964 to 1976. 20 and 50 franc notes were replaced by coins in 1977, with 5,000 franc notes introduced in 1978. The nation's first-ever 2,000 franc note was introduced in mid-December 2007. In 2008 the bank replaced the 100 franc note with a bimetallic coin, and revoked the notes’ legal tender status on 31 December 2009. On September 24, 2013, the National Bank of Rwanda issued a redesigned 500 franc note depicting cows on the front and students with XO computers (from One Laptop per Child) on the back. In December 2014, the National Bank of Rwanda issued 2,000 and 5,000 franc notes with revised security features and the removal of French descriptions on the notes. In October 2015, the National Bank of Rwanda issued a revised 1000 franc note with improved security features and the removal of French descriptions on the notes. On 7 February 2019, the

National Bank of Rwanda The National Bank of Rwanda ( rw, Banki Nkuru Y'u Rwanda, french: Banque Nationale du Rwanda) is the central bank of Rwanda. The bank was founded in 1964. The current governor of the bank is John Rwangombwa. Location It is quartered at the Nat ...

announced new 500 francs and 1,000 francs banknotes would be introduced on 11 February 2019. These banknotes will have new security features and better quality to reduce wear. The design of the front of the 500 franc note is entirely new, and the overall color has been changed to brown to help distinguish it from the 1,000 franc note.

Historical exchange rates

Rwandan francs per US dolla

*262.20 (1995) *393.44 (2000) *610 (2005) *570 (2010) *689 (2014) *760 (2016) *947 (2020)

References

* *

External links

{{Currencies of Africa Circulating currencies

Franc The franc is any of various units of currency. One franc is typically divided into 100 centimes. The name is said to derive from the Latin inscription ''francorum rex'' (King of the Franks) used on early French coins and until the 18th centu ...