The Rwandan franc is poorly performing against the US dollar which also reflected in the increased price hikes of commodities in the local market.
According to statistics released on Tuesday by Rwanda Central Bank, the U$ Dollar is seeling at 1,100 Rwf and buying at 1,079Rwf.
Meanwhile, details in the 20th edition of the Rwanda Economic Update report released Tuesday indicate that Rwanda’s economy is projected to expand at a slower pace in 2023-2025.
This report also notes that the country’s GDP grew by 8.4% in the first three quarters of 2022, after reaching 11 percent in 2021.
Growth has been attributed to the excellent performance of the services sector, especially the revival of tourism, leading to the improvement of employment indicators to levels similar to those at the beginning of the pandemic in early 2020.
