Introduction

The Rwandan Franc (RWF) is the official currency of Rwanda, a country located in East Africa. It is abbreviated as "RWF" and is often symbolized as "FRw" or "RF" to distinguish it from other currencies that also use the "FR" symbol. The currency is issued and regulated by the National Bank of Rwanda, which is the country's central bank.

Key Features of the Rwandan Franc:

1. Subunits: The Rwandan Franc is divided into smaller units called centimes. One Rwandan Franc is equivalent to 100 centimes.

2. Coins and Banknotes: The currency is available in both coins and banknotes of various denominations. Coins are available in smaller denominations, while banknotes are used for larger transactions.

3. Denominations: Commonly used denominations of Rwandan Franc coins include 1, 5, 10, 20, 50, and 100 Francs. Banknotes come in denominations of 500, 1000, 2000, 5000, and 10,000 Francs, among others.

Usage and Exchange:

The Rwandan Franc is the sole legal tender within Rwanda. It is used for daily transactions, trade, and various economic activities within the country.

Historical Context:

Before the introduction of the Rwandan Franc, Rwanda used the East African shilling as its currency. The change to the Rwandan Franc was made to establish a distinct currency for the country following its independence in 1962.

Currency Symbol:

The currency symbol for the Rwandan Franc is "FRw" or "RF" to avoid confusion with other currencies that also use the "FR" symbol.

Exchange Rate:

The exchange rate of the Rwandan Franc against other currencies can fluctuate based on various economic and geopolitical factors. It's important to check with financial institutions or currency exchange services for the most up-to-date exchange rates.

Conclusion:

The Rwandan Franc is the official currency of Rwanda, used for daily transactions and trade within the country. It plays a crucial role in the economic activities of Rwanda and is regulated by the National Bank of Rwanda.