Burundian franc facts for kids

Quick facts for kids Burundian franc
10 franc banknote
ISO 4217 Code	BIF
User(s)	Burundi
Inflation	26.0%
Source	www.brb.bi, July 2023 est.
Subunit
1⁄100	centime
Symbol	FBu
Coins	1, 5, 10, 50 francs
Banknotes	100, 500, 1,000, 2,000, 5,000, 10,000 francs

The Burundian franc (its official code is BIF) is the money used in the country of Burundi. It is divided into 100 centimes, but there have never been any centime coins made by Burundi itself. Centime coins were only used when Burundi shared its money with the Belgian Congo franc.

History of the Burundian Franc

The franc became the money of Burundi in 1916. This happened when Belgium took over the area from Germany. They replaced the old German East African rupie with the Belgian Congo franc. Burundi used this money until 1960.

After that, the Rwanda and Burundi franc was introduced. Burundi started making its very own francs in 1964.

There were plans for countries in the East African Community to use a new common money. This new money was called the East African shilling. These plans were supposed to happen by the end of 2015. However, as of October 2023, this common money has not yet been created.

Burundian Coins

In 1965, the Bank of the Kingdom of Burundi made 1 franc coins out of brass. A few years later, in 1968, the Bank of the Republic of Burundi took over. They introduced new 1 and 5 franc coins made of aluminum. They also made 10 franc coins from a mix of copper and nickel. The 5 and 10 franc coins had special ridged edges.

In 1976, new versions of the 1 and 5 franc coins were made. These coins showed the coat of arms of Burundi. More recently, in 2011, new 10 and 50 franc coins were introduced. These newer coins are made of steel with a nickel coating.

Burundian Banknotes

From February 1964 to December 1965, special banknotes were used. These were notes from the Issuing Bank of Rwanda and Burundi. They came in values of 5, 10, 20, 50, 100, 500, and 1,000 francs. The word "BURUNDI" was printed diagonally across them for use in the country. After this, the Bank of the Kingdom of Burundi started printing its own notes in the same values in 1964 and 1965.

In 1966, the Bank of the Republic of Burundi took over. They printed "Republic" over the word "Kingdom" on notes of 20 francs and higher. This bank then started issuing its own notes. These included 10, 20, 50, 100, 500, 1,000, and 5,000 franc notes. The 10 franc notes were later replaced by coins in 1968.

New values were added over time. In 2001, 2,000 franc notes were introduced. Then, in 2004, 10,000 franc notes were added. A picture of school kids in Burundi, taken by photographer Kelly Fajack, was used on the back of the 10,000 franc note.

In 2015, Burundi released a brand new series of banknotes. The old 10, 20, and 50 franc notes are no longer used. The 100 franc banknote is the only old note still in use today.

Exchange Rates

The exchange rate tells you how much one currency is worth compared to another. For example, on January 3, 2006, 925 Burundian francs were worth 1 US dollar. On January 1, 2008, it took 1,129.40 francs to equal 1 US dollar. By January 1, 2009, the value changed again, with 1,234.33 francs for 1 US dollar. On July 10, it was 1,587.60 francs for 1 US dollar.

See also

• Economy of Burundi
• Rwandan franc

Images for kids

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  10 franc banknote (front)

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  10 franc banknote (back)

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  20 franc banknote (obverse)

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  20 franc banknote (reverse)

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  100 franc banknote (front)