2019-02-08 Fri

On 7th February, the National Bank of Rwanda officially stated that the circulation of redesigned 500 and 1,000 Rwandan francs banknotes will commence from next week onwards. Currently, the 500 francs notes are blue in colour while the new ones are brown in colour. However, both old, as well as new versions of the 1,000 note are blue in colour.

The new notes depict Rwandan cultural insignia and advanced security features have been incorporated to combat counterfeiters. Older notes will be circulated along with the new ones for the next three years, after which the old notes will be taken out of circulation. A German company would be printing the new notes and the government would have to bear a cost of 1.6 billion Rwandan francs for the next three years on an annual basis.

Rwanda is located in Central and East Africa and one of the smallest countries of Africa. Many of the African Great Lakes are situated in this country. There are mountains on the west while the Savanna grasslands are to its east. The country experiences two rainy and two dry seasons every year. Image Courtesy: Google Images