Currency in Rwanda: RWF Send & Spend FX Guide
Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in Rwanda with the Rwandan franc.
What's in this Rwanda currency guide?
What currency is used in Rwanda?
The official currency of Rwanda (country code: RW) is the Rwandan franc, with symbol ر.س and currency code RWF.
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Frequently Asked Questions
What currency should I use in Rwanda?
The domestic currency in Rwanda is the Rwandan franc.
What is the Rwandan franc currency code and symbol?
The three letter currency code for the Rwandan franc is RWF — symbol is ر.س.
Which countries use the Rwandan franc?
It is the domestic currency in Rwanda.
Is the Rwandan franc a closed currency?
No, the Rwandan franc is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of USD and RWF?
Here are some popular conversion amounts for USD to RWF (US dollar to Rwandan franc)*.
| USD | RWF |
|---|---|
| $ 0.7070 | ر.س 1,000 |
| $ 3.5350 | ر.س 5,000 |
| $ 14.14 | ر.س 20,000 |
| $ 70.70 | ر.س 100,000 |
More amounts
*Converted at the current USDRWF interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Things to know about the Rwandan franc
The Rwandan franc (RWF) is the official currency of Rwanda, a country located in East Africa. Here are a few things to know about the Rwandan franc:
- The Saudi riyal is abbreviated as SAR and is divided into 100 halalas.
- The Saudi Arabian Monetary Authority is responsible for issuing and regulating the Saudi riyal.
- The exchange rate for the Saudi riyal is determined by supply and demand in the foreign exchange market.
- Saudi Arabia has a large, diversified economy that is heavily reliant on oil exports. The country is the world's largest exporter of oil and has the second-largest proven reserves of oil in the world.
- The Saudi riyal has been relatively stable in recent years, but the currency has faced challenges due to fluctuations in global oil prices and economic challenges such as high unemployment and a large budget deficit.
Travel money for Rwanda
Using Wise for Rwandan franc travel money is a smart choice for savvy travelers. With its competitive exchange rates and low fees, Wise allows you to convert and manage multiple currencies effortlessly.
Be careful when using your own bank's Debit/Credit Card, as your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash on top of the standard Visa/Mastercard 2.5% from market mid-rate.
For card purchases, if you are offered a choice of currencies always select to Pay in Rwandan franc otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.
If you really want Rwandan franc cash before departure, you can save money by ordering online. You generally get better rates and can pick up the RWF cash locally or even on travel day at the airport.
USD/RWF Market Data
The below interactive chart displays the USD/RWF change and UP📈 DOWN📉 trends over the past 1 Year.
Send Money to Rwanda - Best Rates
To get a good (and fair) exchange rate when sending money to Rwanda 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 Rwanda
When sending money to Rwanda 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 Rwandan 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 RWF amount will be transfered to the recipient account you specify in Rwanda.
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 Rwandan franc deposited into the recipient bank account and less margins and fees kept by the banks!