Rwandan franc facts for kids

Quick facts for kids Rwandan franc
Current banknotes of the Rwandan franc
ISO 4217 Code	RWF
User(s)	Rwanda
Inflation	15.4%
Source	The World Factbook, 2008 est.
Subunit
1⁄100	centime
Symbol	FRw, RF, R₣
Coins	1, 2, 5, 10, 20, 50 and 100 francs
Banknotes	500, 1000, 2000, 5000 francs

The Rwandan franc is the money used in Rwanda, a country in Africa. You might see it written as FRw, RF, or R₣. Its special code is RWF.

How the Rwandan Franc Started

The franc became the official money of Rwanda in 1916. This happened when Belgium took over the area from Germany. The old German money, called the German East African rupie, was replaced by the Belgian Congo franc.

Rwanda used the Belgian Congo's money until 1960. Then, a new currency called the Rwanda and Burundi franc was created. Rwanda started making its own francs in 1964. This was just two years after the country became independent.

Future of the Rwandan Franc

There is an idea to create a single currency for several countries in East Africa. This new money would be called the East African shilling. It would be used by the five countries in the East African Community.

This idea was first planned for 2012. However, as of 2023, the common currency has not yet been introduced.

Coins of Rwanda

In 1964, Rwanda introduced its first coins. These were for 1, 5, and 10 francs. The 1 and 10 franc coins were made of cupronickel, and the 5 franc coin was made of bronze.

In 1969, lighter 1 franc coins made of aluminium were introduced. In 1970, 1⁄2 and 2 franc coins, also made of aluminium, came out. A smaller 10 franc coin, made of copper-nickel, was released in 1974.

Brass 20 and 50 franc coins were introduced in 1977. In 2004, new versions of the 1 to 50 franc coins were released. A new 100 franc coin, made of two different metals, was introduced in 2008.

What Rwandan Coins Are Made Of

• 1 franc - Mostly Aluminium (98%), with a little Magnesium (2%)
• 5 francs - Bronze
• 10 francs - Bronze
• 20 francs - Nickel-plated steel
• 50 francs - Nickel-plated steel
• 100 francs - Has a nickel-plated steel ring and a copper-plated steel center

Banknotes of Rwanda

In 1964, Rwanda used temporary banknotes. These were made by stamping or pressing "Rwanda" onto older Rwanda-Burundi notes. These temporary notes were for 20 to 1,000 francs. Later, regular banknotes for these amounts were printed from 1964 to 1976.

In 1977, coins replaced the 20 and 50 franc banknotes. A new 5,000 franc banknote was introduced in 1978. The first-ever 2,000 franc banknote was released in late 2007.

In 2008, the 100 franc banknote was replaced by a coin. The old 100 franc notes stopped being valid money on December 31, 2009.

Newer Banknote Designs

On September 24, 2013, the National Bank of Rwanda released a new 500 franc note. This note showed cows on the front. On the back, it featured students using XO computers, which were part of the One Laptop per Child program.

In December 2014, new 2,000 and 5,000 franc notes came out. These had better security features. Also, they no longer had French descriptions on them. In October 2015, a new 1,000 franc note was released with improved security and no French text.

On February 7, 2019, the National Bank of Rwanda announced even newer 500 and 1,000 franc banknotes. These were released on February 11, 2019. They have new security features and are made to last longer. The 500 franc note has a completely new design on the front. Its main color was changed to brown to make it easier to tell apart from the 1,000 franc note.

How Many Rwandan Francs Equal One US Dollar?

The value of the Rwandan franc compared to the US dollar has changed over time. Here are some historical exchange rates:

• 262.20 Rwandan francs per US dollar (1995)
• 393.44 Rwandan francs per US dollar (2000)
• 610 Rwandan francs per US dollar (2005)
• 570 Rwandan francs per US dollar (2010)
• 689 Rwandan francs per US dollar (2014)
• 760 Rwandan francs per US dollar (2016)
• 947 Rwandan francs per US dollar (2020)

See also

• Economy of Rwanda
• Burundian franc