The legal tender is the right granted by the Government to a banknote or coin to be used as one of the means of payment within its territory. By the law n0 55/2007 of 30/11/2007 governing the Central Bank of Rwanda ( BNR ), in its articles 34 to 39, the Rwanda Francs Currency issuance is an exclusive privilege of the BNR with sole legal tender on the territory of the Republic of Rwanda.
According to the law n0 55/2007 of 30/11/2007 governing the Central Bank of Rwanda (BNR), the “FRW” is the abbreviation of “ Rwandan franc”, the monetary unit of the Republic of Rwanda.
Therefore, counterfeiting and forgery of banknotes and coins with legal tender are punishable under related provisions of the penal code of Rwanda.
Rwanda banknotes and coins cease to be legal tender with effect from the specified date of their demonetization published in the Official Gazette of the Republic of Rwanda.
The current range of Rwanda banknotes and coins with legal tender as below:
- 5000 FRW, 2000 FRW, 1000 FRW and 500 FRW for banknotes;
- 100 FRW, 50 FRW, 20 FRW, 10 FRW, 5 FRW and 1 FRW for coins.