Money & Shopping

Money & Shopping

The currency is the Rwandan Franc (RWF), which can be divided into 100 centimes. As of July 2011, 1 US Dollar (USD) is equivalent to 602 RWF’s. The smallest-value note is a 500 RWF note, which is the smallest note in physical size, as well. There are also notes in denominations of 1,000, 2,000, and 5,000 RWF, with the larger notes becoming slightly larger in physical size. There are no generally-circulated notes over 5,000 RWF, which can be cumbersome since a 5,000 RWF note is roughly equivalent to $8.30 (USD). Since few places in Rwanda accept credit cards, travelers need to make provision to carry around a large bundle of cash if traveling outside of Kigali, especially if staying longer than a few days.

Coins valued at 100 RWF are commonly used. However, smaller coins (50, 20, 10, 5, and 1 RWF) are generally not accepted by street merchants and smaller restaurants and hotels. The only place to obtain smaller coins is through a bank or a large store, such as a supermarket. It is common for most businesses in Rwanda, including currency exchangers and gas stations, to round transactions to the nearest 100 RWF. Americans traveling to Rwanda will receive slightly better exchange rates by bringing $50.00 bills or higher (year 2006 or newer) to exchange for Rwandan Francs.