National Bank of Rwanda
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The National Bank of Rwanda (French: Banque Nationale du Rwanda) is the central bank of Rwanda. The bank was founded in 1964 and is quartered in Kigali.
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[edit] History
The central bank, whose name is abbreviated to "BNR", evolved step by step:
- Royal Decree of 27th July 1887 establishes the franc as the money of account for the Independent State of Congo, and Rwanda is included as well.
- Heligoland Agreement of 1890 puts Rwanda and Burundi within the German sphere of influence in Africa; the German East African rupie is the official currency; circulation of the French franc continues nonetheless.
- As a result of Belgium's actions, the Belgian Congo becomes a member of the Latin Monetary Union in 1908.
- Bank of Belgian Congo established in 1909.
- Bank of Belgian Congo issues its first banknotes in 1912.
- Rwanda and Burundi attached to the Congo Franc Zone following Germany's defeat in World War I; 1927
- Colony of Belgian Congo and the Bank of Belgian Congo create a new relationship; 1927 - 1952
- World War II era: temporary involvement of the Bank of England; Congo franc is listed in London.
- Belgian Congo and Ruanda-Urundi Central Bank (BCCBRU) 1952 - 1960
- Banque d' Emission du Rwanda et du Burundi (BERB) / (Issuing Bank of Rwanda and Burundi) - 1960 - 1964
- Royal Bank of Burundi (BRB) and the Banque Nationale du Rwanda (BNR) open in 1964.
- (Banque de la République du Burundi (BRB) opens in 1966.)
[edit] See also
[edit] References
1. A brief survey of Rwanda's monetary history, from Banque Nationale du Rwanda site
[edit] External links
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