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U$ Dollar Further Weakens Rwanda Currency

As the Week winds down, the Central Bank (BNR) has released new exchange rates for the local currency. The last update was released on Monday.

Under the revised rates, the US dollar has gained value and pushed the Rwandan franc lower.

For example the Friday exchange rate indicates that the dollar is selling at 1US$/Rwf863.2 up from Mondays rate of 1US$/Rwf862.8.

The new rates also show that the dollar is buying at 1US$/Rwf846.4 compared to Monday’s rate of 1US$/Rwf845.9.

The Euro has also dropped in value by almost 7 points from selling at 1€/Rwf1058 on Monday to 1€/Rwf1051 selling value on Friday.

For traders looking for British pound sterling, it is now selling at 1£/Rwf1203 compared to 1£/Rwf1209 on Monday.

The buying price on Monday was 1£/Rwf1185.7 compared to the new rate of 1£/Rwf 1179.

However, with these fluctuations in currency value, the central bank has not made any attributions.

Regional currencies which are majorly used across the East African bloc have also been affected.

The Uganda shilling is now selling at 1Shs/Rwf0.233 compared to the selling price of 1shs/Rwf 0.232 on Monday.

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