Burundian franc

Last updated
Burundian franc
franc burundais (French)
Burundi 10Franc Front.jpg
10 franc banknote
ISO 4217
CodeBIF (numeric:108)
Unit
Symbol FBu
Denominations
Subunit
1100 centime
Banknotes100, 500, 1,000, 2,000, 5,000, 10,000 francs
Coins1, 5, 10, 50 francs [1]
Demographics
User(s)Flag of Burundi.svg  Burundi
Issuance
Central bank Banque de la Republique du Burundi (Ibanki ya Republika Y'UBurundi)
Website www.brb.bi
Valuation
Inflation 26.0%
Source www.brb.bi , July 2023 est.

The franc (ISO 4217 code is BIF) is the currency of Burundi. It is nominally subdivided into 100 centimes, although coins have never been issued in centimes since Burundi began issuing its own currency. Only during the period when Burundi used the Belgian Congo franc were centime coins issued.

Contents

History

The franc became the currency of Burundi in 1916, when Belgium occupied the former German colony and replaced the German East African rupie with the Belgian Congo franc. Burundi used the currency of Belgian Congo until 1960, when the Rwanda and Burundi franc was introduced. Burundi began issuing its own francs in 1964[ citation needed ].

There were plans to introduce a common currency, a new East African shilling, for the five member states of the East African Community by the end of 2015[ citation needed ]. As of October 2023, these plans have not yet materialized.

Coins

In 1965, the Bank of the Kingdom of Burundi issued brass 1 franc coins. In 1968, Bank of the Republic of Burundi took over the issuance of coins and introduced aluminum 1 and 5 francs and cupro-nickel 10 francs. The 5 and 10 francs have continuous milled edges. Second types of the 1 and 5 franc coins were introduced in 1976, featuring the coat of arms. In 2011 new 10 and 50 franc coins were introduced.

Burundian franc coins
ImageValueCompositionDiameterWeightThicknessEdgeIssued
1 franc Aluminum 18.9 mm.87 g1 mmReeded1976-2003
5 francs Aluminum 25 mm2.20 g2 mmReeded1976-2013
10 francs Copper-nickel 28 mm7.8 gReeded1968-1971
10 francs Nickel-plated steel27 mm6.2 g1.63 mmReeded2011
50 francs Nickel-plated steel29 mm7.2 g1.63 mmReeded2011

Banknotes

From February 1964 until 31 December 1965, notes of the Banque d'Émission du Rwanda et du Burundi (Issuing Bank of Rwanda and Burundi), in denominations of 5, 10, 20, 50, 100, 500 and 1,000 francs, were overprinted with a diagonal hollow "BURUNDI" for use in the country. [2] These were followed in 1964 and 1965 by regular issues in the same denominations by the Banque du Royaume du Burundi (Bank of the Kingdom of Burundi).

In 1966, notes for 20 francs and above were overprinted by the Bank of the Republic of Burundi, replacing the word "Kingdom" with "Republic". Regular issues of this bank began in denominations of 10, 20, 50, 100, 500, 1,000 and 5,000 francs. 10 francs were replaced by coins in 1968. 2,000 franc notes were introduced in 2001, followed by 10,000 francs in 2004. Photographer Kelly Fajack's image of school kids in Burundi was used on the back of the Burundian 10,000 franc note. In 2015 Burundi launched a new series of banknotes. The 10, 20, and 50 franc banknotes have lost their legal tender status and the 100 franc banknote is the only note from the old series in circulation.

ImageValueDimensionsMain ColourDescriptionDate of
ObverseReverseObverseReverseprintingissuewithdrawallapse
Burundi 10Franc Front.jpg Burundi 10Franc Back.jpg 10 FrancsgreenMap and Coat of arms of Burundi Value, motto
Burundi 20 Franc Obverse.jpg Burundi 20 Franc Reverse.jpg 20 Francsred-pinkCoat of arms of Burundi
These images are to scale at 0.7 pixel per millimetre. For table standards, see the banknote specification table.
Banknotes of the Burundian franc
ImageValueObverseReverseRemark
50 francs (Mirongo Itanu Amafranga)Dugout canoeFishermen, hippo
Burundi Franc 100 front.jpg
100 francs (Ijana Amafranga)Prince RwagasoreHome constructionOriginal size: 150 x 70 mm.
100 francs (Ijana Amafranga)Prince RwagasoreHome constructionReduced size: 125 x 65 mm.
500 francs (Amajan Atanu Amafranga) President Melchior Ndadaye Banque de la République du Burundi (Ibanki ya Republika y'Uburundi; Bank of the Republic of Burundi) building, Bujumbura
500 francs (Amajan Atanu Amafranga)Navite artBanque de la République du Burundi (Ibanki ya Republika y'Uburundi; Bank of the Republic of Burundi) building, BujumburaOriginal size: 160 x 73 mm.
500 francs (Amajan Atanu Amafranga)Navite artBanque de la République du Burundi (Ibanki ya Republika y'Uburundi; Bank of the Republic of Burundi) building, BujumburaReduced size: 130 x 67 mm.
500 francs (Amajana Atanu Amafaranga)Crocodile, coat of arms and Flag of Burundi, coffee branchOutline of Burundi, boat on Lake Tanganiyka
1000 francs (Igihumbi Amafranga)CattleMonument de l'Unite, Bujumbura Original size: 170 x 76 mm.
1000 francs (Igihumbi Amafranga)CattleMonument de l'Unite,BujumburaReduced size: 135 x 69 mm.
1000 francs (Igihumbi Amafaranga)Bird, coat of arms and Flag of Burundi, cattleOutline of Burundi, banana trees
2000 francs (Ibihumbi Bibiri Amafranga)HarvestLakeA printed note showing white borders on each corner.
2000 francs (Ibihumbi Bibiri Amafranga)HarvestLakeFull printing on the note.
2000 francs (Igihumbi Bibiri Amafaranga)Antelope, coat of arms and Flag of Burundi, pineappleOutline of Burundi, fieldwork
5000 francs (Ibihumbi Bitanu Amafranga) Coat of arms of Burundi; Parliament of Burundi buildingPort of Bujumbura (Lake Tanganyika)Registration device on the lower center of the note; without the watermark area
5000 francs (Ibihumbi Bitanu Amafranga) Coat of arms of Burundi; Parliament of Burundi buildingPort of Bujumbura (Lake Tanganyika)Registration device moved to the left side of the note; watermark area added; addition of bull-shaped holographic patch
5000 francs (Ibihumbi Bitanu Amafranga) Coat of arms of Burundi; Parliament of Burundi buildingPort of Bujumbura (Lake Tanganyika)Full printing
5000 francs (Ibihumbi Bitanu Amafaranga)Buffalo, coat of arms and Flag of Burundi, dancers with drumsOutline of Burundi, landscape
10,000 francs (Ibihumbi Cumi Amafranga)Prince Rwagasore and President Melchior Ndadaye Classroom scene (based on a photograph by Kelly Fajack)
10,000 francs (Ibihumbi Cumi Amafaranga)Hippo, coat of arms and Flag of Burundi, Prince Rwagasore and President Melchior Ndadaye Outline of Burundi, plants

Historical exchange rates

On 3 January 2006, the franc was valued at 925 per $1.[ citation needed ] On January 1, 2008, the franc was valued at 1,129.40 per US dollar.[ citation needed ] On January 1, 2009, the franc was valued at 1,234.33 per U.S. dollar. On 10 July,[ year needed ] the franc was valued at 1,587.60 per US dollar.[ citation needed ]

Current BIF exchange rates
From Google Finance: AUD CAD CHF CNY EUR GBP HKD JPY USD
From Yahoo! Finance: AUD CAD CHF CNY EUR GBP HKD JPY USD
From XE.com: AUD CAD CHF CNY EUR GBP HKD JPY USD
From OANDA: AUD CAD CHF CNY EUR GBP HKD JPY USD

See also

Related Research Articles

<span class="mw-page-title-main">Swiss franc</span> Currency of Switzerland and Liechtenstein

The Swiss franc is the currency and legal tender of Switzerland and Liechtenstein. It is also legal tender in the Italian exclave of Campione d'Italia which is surrounded by Swiss territory. The Swiss National Bank (SNB) issues banknotes and the federal mint Swissmint issues coins.

<span class="mw-page-title-main">French franc</span> Former currency of France

The franc, also commonly distinguished as the French franc (FF), was a currency of France. Between 1360 and 1641, it was the name of coins worth 1 livre tournois and it remained in common parlance as a term for this amount of money. It was reintroduced in 1795. After two centuries of inflation, it was redenominated in 1960, with each new franc (NF) being worth 100 old francs. The NF designation was continued for a few years before the currency returned to being simply the franc. Many French residents, though, continued to quote prices of especially expensive items in terms of the old franc, up to and even after the introduction of the euro in 2002. The French franc was a commonly held international reserve currency of reference in the 19th and 20th centuries. Between 1998 and 2002, the conversion of francs to euros was carried out at a rate of 6.55957 francs to 1 euro.

The Congolese franc is the currency of the Democratic Republic of the Congo. It is subdivided into 100 centimes. However, centimes no longer have a practical value and are no longer used. In April 2024, 2,800 francs was equivalent to US$1.

<span class="mw-page-title-main">Malagasy ariary</span> Currency of Madagascar

The ariary is the currency of Madagascar. It is notionally subdivided into 5 iraimbilanja and is one of only two non-decimal currencies currently circulating. The names ariary and iraimbilanja derive from the pre-colonial currency, with ariary being the name for a silver dollar. Iraimbilanja means literally "one iron weight" and was the name of an old coin worth 15 of an ariary. However, as of May 2023, the unit is effectively obsolete since the iraimbilanja has practically no purchasing power, and the coins have fallen into disuse.

<span class="mw-page-title-main">Algerian dinar</span> Currency of Algeria

The dinar is the monetary currency of Algeria and it is subdivided into 100 centimes. Centimes are now obsolete due to their extremely low value.

<span class="mw-page-title-main">Malagasy franc</span> Former currency of Madagascar

The franc was the currency of Madagascar until 1 January 2005. It was subdivided into 100 centimes. In Malagasy the corresponding term for the franc is iraimbilanja, and five Malagasy francs is called ariary.

<span class="mw-page-title-main">Belgian franc</span> Currency of Belgium from 1832 until 2002

The Belgian franc was the currency of the Kingdom of Belgium from 1832 until 2002 when the Euro was introduced. It was subdivided into 100 subunits, each known as a centiem in Dutch, centime in French or a Centime in German.

The Luxembourg franc (F or ISO LUF, Luxembourgish: Frang), subdivided into 100 centimes, was the currency of Luxembourg between 1854 and 2002, except from 1941 to 1944. From 1944 to 2002, its value was equal to that of the Belgian franc. The franc remained in circulation until 2002, when it was replaced by the euro.

<span class="mw-page-title-main">Rwandan franc</span> Currency of Rwanda

The Rwandan franc is the currency of Rwanda.

<span class="mw-page-title-main">Guinean franc</span> Currency of Guinea

The Guinean franc is the currency of Guinea. It is subdivided into one hundred centimes, but no centime denominations were ever issued.

<span class="mw-page-title-main">Djiboutian franc</span> Currency of Djibouti

The Djiboutian franc is the currency of Djibouti. Its ISO 4217 currency code is DJF. Historically, it was subdivided into 100 centimes.

The franc is the official currency of Comoros. It is nominally subdivided into 100 centimes, although no centime denominations have ever been issued.

The franc was the currency of the Anglo-French Condominium of the Pacific island group of the New Hebrides. It circulated alongside British and later Australian currency. The New Hebrides franc was nominally divided into 100 Centimes, although the smallest denomination was the 1 franc. Between 1945 and 1969, it was part of the CFP franc.

<span class="mw-page-title-main">Katangese franc</span> Currency of the republic of Katanga

The Katangese franc, was the currency of the unrecognized State of Katanga between 1960 and 1963 during its brief period of independence from the Republic of the Congo. It replaced the Congolese franc at par and was consequently initially equal to the Belgian franc. This established an exchange rate of 50 francs = 1 U.S. dollar. Just before Katanga was re-annexed by Congo, the exchange rate had fallen to 195 francs = 1 U.S. dollar. The currency was replaced at par by the Congolese franc.

<span class="mw-page-title-main">Algerian franc</span>

The franc was the currency of Algeria between 1848 and 1964. It was subdivided into 100 centimes.

<span class="mw-page-title-main">Central African CFA franc</span> Currency of several Central African countries

The Central African CFA franc is the currency of six independent states in Central Africa: Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea and Gabon. These six countries have a combined population of 55.2 million people, and a combined GDP of over US$100 billion.

<span class="mw-page-title-main">Tunisian franc</span>

The franc was the currency of Tunisia between 1891 and 1958. It was divided into 100 centimes (صنتيم) and was equivalent to the French franc.

The franc was the currency of Réunion until 1999. Before 1975, Réunion had its own franc, distinct from that of France. After 1975, the French franc circulated. Réunion now uses the euro. The Réunion franc was subdivided into 100 centimes.

The Ruanda-Urundi franc was a currency issued for the Belgian mandate territory of Ruanda-Urundi in 1960–62 which continued to circulate within its successor states of Rwanda and Burundi until 1964. The currency replaced the Belgian Congo franc which had also circulated in Ruanda-Urundi from 1916 to 1960 when the Belgian Congo became independent, leaving Ruanda-Urundi as the sole Belgian colonial possession in Africa. With the independence of Rwanda and Burundi in 1962, the shared Ruanda-Urundi franc continued to circulate until 1964 when it was eventually replaced by two separate national currencies.

The Saint Pierre and Miquelon franc was the currency of Saint Pierre and Miquelon during a short time.

References

  1. Billets et Pièces en Circulation
  2. Linzmayer, Owen (2013). "Burundi". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.