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.
What is a good Rwandan franc exchange rate?
The BestExchangeRates.com currency comparison table below helps you see the total cost of your currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of rates, enter your transaction type, currencies and amount then click ‘GET RATES’:
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Good 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.
For more RWF information check out our selection of Rwandan franc news and guides.
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 |
|---|---|
| $ 0.6970 | ر.س 1,000 |
| $ 3.4850 | ر.س 5,000 |
| $ 13.94 | ر.س 20,000 |
| $ 69.70 | 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.
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.
Everyday Costs in in Rwanda
How much does it really cost to live, work, or travel in Rwanda? Here's what to expect for daily expenses and expat living.
Currency Guide for Rwanda (RW)
For travelers planning a mid-range stay in Rwanda for one week, it's advisable to budget around 350,000 to 500,000 Rwandan Francs (RWF) depending on your activities and dining choices. Typical daily expenses in Rwanda may include:
🍽️ Meal at a local restaurant: 2,500 - 5,000 RWF
☕ Coffee: 1,000 - 2,000 RWF
🚍 Public transport fare: 200 - 500 RWF
📱 Prepaid SIM card: 3,000 - 5,000 RWF
🏨 Budget hotel or Airbnb: 25,000 - 50,000 RWF
Overall, Rwanda can be considered an average destination for travelers when compared to other countries. When contrasted with the United States, you may find that dining and local transportation costs are significantly lower, while prices may be comparable to those in countries like Canada, where urban living expenses can add up quickly.
Expat Living in Rwanda
For expatriates moving to Rwanda, a monthly budget between 800,000 to 1,500,000 RWF would provide a comfortable lifestyle. This budget typically covers rent for a modest apartment, utilities, groceries, and leisure activities. When it comes to managing finances, it's advisable to use local banks for everyday transactions while also keeping a global bank account for international needs. Credit and debit cards are widely accepted in urban areas, but carrying cash in RWF is prudent for purchases in rural contexts where card facilities may be limited.
When considering money exchange options, it’s often better to exchange money locally due to competitive rates in urban centers. However, for larger transfers or recurring payments, using online services like Wise or OFX can save you on fees and give you better rates.
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!