The National Bank of Rwanda (BNR) has issued new banknotes of Rwf5,000 and Rwf2,000 that will be in circulation along with the existing banknotes. According to the official gazette dated August 30, the issuance of new notes ordered by President Paul Kagame was done following the proposal by the Minister of Finance and Economic Planning which was considered and approved by the Cabinet during its meeting of August 23. ALSO READ: BNR gears up for new Rwf2,000, Rwf5,000 notes “A new banknote of Rwf5,000 and of Rwf2,000 are in circulation simultaneously with the existing banknotes of Rwf500, Rwf1,000, Rwf2,000, and of Rwf5,000 which have legal tender in Rwanda,” reads part of the gazette. There are a number of reasons for changing banknotes, including the need to upgrade security features to avoid counterfeiting. It is still unclear how much the adoption of the legal tender cost the Government. Rwanda’s banknotes are printed in Kinyarwanda and English. ALSO READ: Rwanda’s leap into central bank digital currency Characteristics of the new notes The new banknote of Rwf5,000 sized 145 x 72mm has lilac as the dominant colour with its watermark being the Coat of arms of the Republic of Rwanda located at the righthand of the note and an electrotype representing the letters “BNR’’ below. On the front, it has the principal design of the building of Kigali Convention Centre, at its left-hand side will be an image of a gorilla changing colour and the signature of both the Governor and Deputy Governor of the central bank below the image. The face value of the banknote is written horizontally in each corner except the one of upper right-hand side, and the date of issuance “28.06.2024”, written on banknote at the bottom of the watermark. At the back of the note there are two small baskets with one carrying a calabash placed inside the Rwandan traditional house, and the face value of the note written horizontally in all corners, among other characteristics. The Rwf2,000 banknote sized 142 x 72mm, has clear violet as its dominant color and the same watermark of Coat of arms of the Republic of Rwanda and an electrotype representing the letters “BNR’’ below Its principal design on the front is Lake Kivu mountains and the face value of the banknote is written horizontally in each corner except the one of upper right. On the back, its principal design is roosted coffee beans, among other characteristics. Both notes have a wide windowed security thread in which the micro text reads “BNR” and their face value which changes colour from green to blue depending on direction that the banknote is taken, located on the left-hand side of the banknote.
