--- tags: rwanda --- # THE CURRENCY [CODE:](https://en.wikipedia.org/wiki/Rwandan_franc) RWF [SYMBOL:](https://en.wikipedia.org/wiki/Rwandan_franc) FRw, RF, R₣ [BANKNOTES:](https://en.wikipedia.org/wiki/Rwandan_franc) 500, 1000, 2000, 5000 francs [COINS:](https://en.wikipedia.org/wiki/Rwandan_franc) 1, 2, 5, 10, 20, 50 and 100 francs [USERS:](https://en.wikipedia.org/wiki/Rwandan_franc) Rwandans [CENTRAL BANK:](https://en.wikipedia.org/wiki/Rwandan_franc) [National Bank of Rwanda](https://www.bnr.rw/home/) 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. Rwanda used the currency of the Belgian Congo until 1960, when the Rwanda and Burundi franc was introduced. Rwanda began issuing its own francs in 1964, two years after gaining independence. [^currency] A proposal exists to introduce a common currency, a new East African shilling, for the five member states of the East African Community. Whilst originally scheduled to occur by the end of 2012, as of January 2020, a common currency has still yet to be introduced. [^currency] BANKNOTES - On 7 February 2019, the National Bank of Rwanda 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. [^currency] [^currency]: https://en.wikipedia.org/wiki/Rwandan_franc