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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. [7] 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 economy is managed by the central National Bank of Rwanda and the currency is the Rwandan franc; in June 2010, the exchange rate was 588 francs to the United States dollar. [24] Rwanda joined the East African Community in 2007 and there were plans for a common East African shilling, which it had been hoped would be in place by 2015, [25 ...
The economy is managed by the central National Bank of Rwanda and the currency is the Rwandan franc; in December 2023, the exchange rate was 1250 francs to one United States dollar. [174] Rwanda joined the East African Community in 2007, and has ratified a plan for monetary union amongst the seven member nations, [175] which could eventually ...
Also, in many African currencies there have been episodes of rampant inflation, resulting in the need for currency revaluation (e.g. the Zimbabwe dollar). In some places there is a thriving street trade by unlicensed street traders in US dollars or other stable currencies, which are seen as a hedge against local inflation.
These foreign-currency deposits are the financial assets of the central banks and monetary authorities that are held in different reserve currencies (e.g., the U.S. dollar, the euro, the pound sterling, the Japanese yen, the Swiss franc, the Indian rupees and the Chinese renminbi) and which are used to back its liabilities (e.g., the local ...
US Dollar (37) Euro (28) Composite (8) Other (9) No separate legal tender (16) Ecuador El Salvador Marshall Islands Micronesia Palau Panama Timor-Leste Andorra Monaco San Marino Vatican City Kosovo Montenegro Kiribati Nauru Tuvalu; Currency board (11) Djibouti Hong Kong ; ECCU Antigua and Barbuda Dominica
Usage of: West African CFA franc Central African CFA franc The West African CFA franc (French: franc CFA or simply franc, ISO 4217 code: XOF; abbreviation: F.CFA) is the currency used by eight independent states in West Africa which make up the West African Economic and Monetary Union: Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo.
Rwandan franc – Rwanda; Saar franc – Saar; Saint Pierre and Miquelon franc – Saint Pierre and Miquelon; Swiss franc – Switzerland, Liechtenstein; Togolese franc – Togo; Tunisian franc – Tunisia; US occupation franc – France (issued and used by Allied soldiers, never backed by any government) West African CFA franc – Benin ...