Taarifa Rwanda

Is The Franc Lossing Grip Against The Dollar?

Rwanda’s local currency is steadily losing the grip on the US dollar as evidenced with exchange trends in the past months.

According the latest figures released by the central bank (BNR), if you are looking for a dollar, it is being sold at Frw903.7.

If you have the dollar and want to sell it, you get Frw886.

The Euro is already selling at Frw1, 017.9 and buying at Frw997.9.

In regional currencies, Uganda shilling is buying at 0.23 and selling at 0.24.

The Kenya Shilling has been priced at 8.7 selling while buying at 8.9.

If you are looking for Tanzanian shillings the central bank says you can buy at 0.38 and sell at 0.39.

The rapid decline of the Franc against the dollar is squeezing the economy so badly.

Quick pointers include heavy importation of construction materials, and consumable merchandise.

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