National Bank of Rwanda

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The National Bank of Rwanda (French: Banque Nationale du Rwanda) is the central bank of Rwanda. The bank was founded in 1964 and is quartered in Kigali; it operates Rwanda's principal securities exchange, the Rwanda Over The Counter Exchange.[1]

History

The central bank, whose name is abbreviated to "BNR", evolved step by step:

• Royal Decree of 27th July 1887 establishes the franc as the money of account for the Independent State of Congo, and Rwanda is included as well.
• Heligoland Agreement of 1890 puts Rwanda and Burundi within the German sphere of influence in Africa; the German East African rupie is the official currency; circulation of the French franc continues nonetheless.
• As a result of Belgium's actions, the Belgian Congo becomes a member of the Latin Monetary Union in 1908.
• Bank of Belgian Congo established in 1909.
• Bank of Belgian Congo issues its first banknotes in 1912.
• Rwanda and Burundi attached to the Congo Franc Zone following Germany's defeat in World War I; 1927
• Colony of Belgian Congo and the Bank of Belgian Congo create a new relationship; 1927 - 1952
  • World War II era: temporary involvement of the Bank of England; Congo franc is listed in London.
• Belgian Congo and Ruanda-Urundi Central Bank (BCCBRU) 1952 - 1960
• Banque d' Emission du Rwanda et du Burundi (BERB) / (Issuing Bank of Rwanda and Burundi) - 1960 - 1964
• Royal Bank of Burundi (BRB) and the Banque Nationale du Rwanda (BNR) open in 1964.
• (Banque de la République du Burundi (BRB) opens in 1966.)

See also

• Central banks and currencies of Africa
• Economy of Rwanda
• List of central banks
• Rwandan franc

References

1. A brief survey of Rwanda's monetary history, from Banque Nationale du Rwanda site

External links

• (French) (English) Official site: Banque Nationale du Rwanda

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