Burundian franc

Burundian franc
franc burundais  (French)
ISO 4217
Code	BIF
Denominations
Subunit
1/100	centime
Symbol	FBu
Banknotes	100, 500, 1,000, 2,000, 5,000, 10,000 francs
Coins	1, 5, 10, 50 francs
Demographics
User(s)	Burundi
Issuance
Central bank	Banque de la Republique du Burundi (Ibanki ya Republika Y'UBurundi)
Website	www.brb.bi
Valuation
Inflation	4.4%
Source	The World Factbook, 2014 est.

The franc (ISO 4217 code is BIF) is the currency of Burundi. It is nominally subdivided into 100 centimes, although coins have never been issued in centimes since Burundi began issuing its own currency. Only during the period when Burundi used the Belgian Congo franc were centime coins issued.

History

The franc became the currency of Burundi in 1916, when Belgium occupied the former German colony and replaced the German East African rupie with the Belgian Congo franc. Burundi used the currency of Belgian Congo until 1960, when the Rwanda and Burundi franc was introduced. Burundi began issuing its own francs in 1964.

There are plans to introduce a common currency, a new East African shilling, for the five member states of the East African Community by the end of 2015.

Coins

In 1965, the Bank of the Kingdom of Burundi issued brass 1 franc coins. In 1968, Bank of the Republic of Burundi took over the issuance of coins and introduced aluminum 1 and 5 francs and cupro-nickel 10 francs. The 5 and 10 francs have continuous milled edges. Second types of the 1 and 5 franc coins were introduced in 1976, featuring the coat of arms. In 2011 new 10 and 50 franc coins were introduced.

Banknotes

From February 1964 until 31 December 1965, notes of the Banque d’Emission du Rwanda et du Burundi (Issuing Bank of Rwanda and Burundi), in denominations of 5, 10, 20, 50, 100, 500 and 1,000 francs, were overprinted with a diagonal hollow "BURUNDI" for use in the country.^[1] These were followed in 1964 and 1965 by regular issues in the same denominations by the Banque du Royaume du Burundi (Bank of the Kingdom of Burundi).

In 1966, notes for 20 francs and above were overprinted by the Bank of the Republic of Burundi, replacing the word "Kingdom" with "Republic". Regular issues of this bank began in denominations of 10, 20, 50, 100, 500, 1,000 and 5,000 francs. 10 francs were replaced by coins in 1968. 2,000 franc notes were introduced in 2001, followed by 10,000 francs in 2004. Photographer Kelly Fajack's image of school kids in Burundi was used on the back of the Burundian 10,000 franc note.

Image		Value	Dimensions	Main Colour	Description		Date of
Obverse	Reverse				Obverse	Reverse	printing	issue	withdrawal	lapse
		10 Francs		green	Map and Coat of arms of Burundi
		20 Francs
These images are to scale at 0.7 pixels per millimetre. For table standards, see the banknote specification table.

Historical exchange rates

On 3 January 2006, the franc was valued at 925 per $1. On January 1, 2008, the franc was valued at 1,129.40 per US dollar. On January 1, 2009, the franc was valued at 1,234.33 per U.S. dollar. On 10 July, the franc was valued at 1,587.60 per US dollar

See also

• Economy of Burundi

References

External links

Economy of Burundi
Currency: Burundian franc
Communications	Banking Communications History of Trade Transportation
Industries:	Agriculture Mining Tourism