Currency in Burundi BIF - Things to know
Foreign exchange guide to Burundi and the Burundian franc
What's in this Burundi currency guide?
What currency is used in Burundi?
The official currency of Burundi (country code: BI) is the Burundian franc, with symbol and currency code BIF.
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Things to know about the Burundian franc
The currency code "BIF" refers to the Burundian franc, which is the official currency of Burundi. It is represented by the symbol "FBu" and is abbreviated as BIF. The physical currency consists of coins and banknotes. The coins come in denominations of 1, 5, 10, 20, and 50 centimes. The banknotes come in denominations of 100, 200, 500, 1,000, 2,000, and 5,000 francs. The banknotes feature images of famous Burundian historical figures, such as King Mwambutsa IV and Prince Louis Rwagasore. The design of the currency is constantly being updated, so the physical appearance of the coins and banknotes may vary slightly over time.
Travel money for Burundi
Save money and time by Ordering your Burundian franc online from Travelex, you get better rates and can pick up the BIF cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Burundian franc otherwise you may get much worst exchange rates.
Travel Ideas and Money Tips for Burundi
Burundi is a landlocked country located in East Africa, bordered by Rwanda to the north, Tanzania to the east and south, and the Democratic Republic of the Congo to the west. It has a population of around 11 million people and the official languages are Kirundi and French.
Burundi is a predominantly agricultural country, with farming, livestock, and fishing being the main economic activities. The country is also rich in natural resources, including gold, uranium, and other minerals. However, Burundi is one of the poorest countries in the world and faces a number of challenges, including poverty, food insecurity, and political instability.
Here are a few travel tips for visiting Burundi:
Pack light: Burundi has a warm, tropical climate, so it's best to pack light, breathable clothing. It's also a good idea to bring a lightweight raincoat or umbrella, as the country experiences heavy rainfall during the rainy season.
Bring cash: Credit cards are not widely accepted in Burundi, so it's important to have cash on hand for expenses such as transportation, accommodation, and meals. The local currency is the Burundian franc.
Respect local customs: Burundi is a predominantly Christian country, and it's important to be respectful of local customs and traditions. This includes dress codes, particularly for women, and observing appropriate behavior in places of worship.
Learn a few phrases in Kirundi: While French is widely spoken in Burundi, it's always appreciated when visitors make an effort to speak the local language. Learning a few phrases in Kirundi can go a long way in showing your respect for the culture of the country.
Stay hydrated: The heat and humidity in Burundi can be intense, so it's important to stay hydrated. Bring a water bottle and refill it regularly to avoid dehydration.
Protect yourself from mosquito bites: Mosquitoes are prevalent in Burundi and can carry diseases such as malaria and dengue fever. It's a good idea to bring insect repellent and take precautions to protect yourself from mosquito bites.
Use caution when traveling: Burundi has a history of conflict and political instability, and it's important to be aware of local conditions and to follow the advice of local authorities and your embassy or consulate. It's also a good idea to register with your embassy.
USD/BIF Market Data
The below interactive chart displays the USD/BIF change and UP📈 DOWN📉 trends over the past 1 Year.
Frequently Asked Questions
What currency should I use in Burundi?
The domestic currency in Burundi is the Burundian franc.
What is the Burundian franc currency code and symbol?
The three letter currency code for the Burundian franc is BIF.
Which countries use the Burundian franc?
It is the domestic currency in Burundi.
Is the Burundian franc a closed currency?
No, the Burundian franc is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of USD and BIF?
Here are some popular conversion amounts for USD to BIF (US dollar to Burundian franc)*.
*Converted at the current USDBIF interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Send Money to Burundi - Best Rates
To get a good (and fair) exchange rate when sending money to Burundi you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
Get a better deal for foreign transfers to Burundi
When sending money to Burundi it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Burundian franc amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted BIF amount will be transfered to the recipient account you specify in Burundi.
Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Burundian franc deposited into the recipient bank account and less margins and fees kept by the banks!
Expat Money & Business Guide to Burundi
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
By following these tips and managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Burundi.
How is the economy in Burundi?
The economy of Burundi is primarily based on agriculture, with farming, livestock, and fishing being the main economic activities. The country is also rich in natural resources, including gold, uranium, and other minerals. However, Burundi is one of the poorest countries in the world, with a GDP per capita of around $200 in 2020.
Burundi has a history of conflict and political instability, which has had a negative impact on the country's economic development. The country has also been affected by external shocks, such as fluctuations in commodity prices, and has struggled to attract foreign investment.
Despite these challenges, Burundi has made progress in recent years in reducing poverty and promoting economic growth. The country's economy has grown at an average rate of around 5% per year in recent years, driven by growth in the agricultural sector.
The government of Burundi has made efforts to promote economic development and reduce poverty, including through the development of infrastructure and the promotion of foreign investment. However, the country faces a number of economic challenges, including a lack of infrastructure, a weak financial sector, and a low level of human capital. The country also ranks poorly in global indices of press freedom and human rights, which can be a barrier to foreign investment.
Managing your finances in Burundi
Here we list some key points for expats and businesses to consider when managing financial dealings in Burundi:
Understand Burundian franc currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the BIF exchange rate and consider using a currency exchange service or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local Burundian franc bank account: A local BIF bank account can make it easier for you to manage your finances and pay bills while you are in Burundi. It may also be more convenient to use a local BIF bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Burundi. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in Burundi. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in Burundi, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.