RWANDA FRANC Meaning and
Definition
-
The Rwanda Franc is the official currency of the Republic of Rwanda, a landlocked country located in East Africa. It was introduced as the national currency in 1964, replacing the East African shilling and the Belgian Congo franc. The currency is abbreviated as RWF and is subdivided into 100 centimes, although centime coins are no longer in circulation.
The Rwanda Franc, like other currencies, serves as a medium of exchange and a legal tender within the country. It is issued and regulated by the National Bank of Rwanda, the central bank responsible for monetary policy and financial stability in the country. The bank ensures the proper circulation of the currency and monitors its supply and demand.
The Rwanda Franc features various denominations of both banknotes and coins, which are designed with distinct color schemes and unique features to prevent counterfeiting. Banknotes are commonly available in denominations of 500, 1,000, 2,000, 5,000, and 10,000 Francs, while coins are typically issued in values of 1, 5, 10, 20, 50, and 100 Francs.
As of 2021, the exchange rate of the Rwanda Franc is determined by the foreign exchange market, with its value relative to other currencies fluctuating daily. The currency plays a vital role in the Rwandan economy, enabling domestic transactions, international trade, and investment within the country.
Common Misspellings for RWANDA FRANC
- ewanda franc
- dwanda franc
- fwanda franc
- twanda franc
- 5wanda franc
- 4wanda franc
- rqanda franc
- raanda franc
- rsanda franc
- reanda franc
- r3anda franc
- r2anda franc
- rwznda franc
- rwsnda franc
- rwwnda franc
- rwqnda franc
- rwabda franc
- rwamda franc
- rwajda franc
Etymology of RWANDA FRANC
The word "Rwanda Franc" has a relatively straightforward etymology.
The term "Rwanda" refers to the country in East Africa known as the Republic of Rwanda. The name "Rwanda" comes from the root word "ruhondo" in the Kinyarwanda language, which means "to search" or "to explore".
The term "Franc" is derived from the French currency unit "franc". Franc is a common name for the national currency in various countries, including Rwanda. The use of "Franc" as a currency name can be traced back to France, where it originated in the 14th century. The word "Franc" itself derives from the Latin term "Francorum Rex", meaning "King of the Franks", which was used during the reign of French King John II.
Infographic
Add the infographic to your website:
