Rwanda’s Central Bank Reports Reduced Pressure on Rwandan Franc

Kigali, December 1, 2025 - The Central Bank of Rwanda (BNR) has reported a decrease in depreciation pressure on the Rwandan Franc (FRw) against the US Dollar from January to September 2025, signaling improved currency stability compared to the 2024/2025 fiscal year.

The announcement was made when BNR Governor Soraya Hakuziyaremye presented the annual report for 2024/2025 and outlined plans for 2025/2026 to both houses of Parliament.

Governor Hakuziyaremye noted that in 2024/25, the Rwandan franc depreciated by 9.6% against the US dollar, compared to 12.5% by June 2024. In 2025, the depreciation had slowed to 4.2% as of September, with hopes of remaining under 5% by year-end.

“The pressure on the Rwandan franc has decreased due to regulations limiting foreign currency payments and reforms implemented this year,” she said. The governor also cited the weakening of the US dollar internationally and a lower US central bank interest rate as contributing factors.

BNR indicated the current exchange rates as 1446 FRw for buyers of US dollars and 1456 FRw for sellers.

Hakuziyaremye highlighted other measures supporting currency stability, including increased exports of coffee, tea, and precious metals, foreign investment, and tourism, which generate additional foreign exchange.

The National Institute of Statistics (NISR) reported that market prices in September 2025 rose by 7.3% compared to September 2024, slightly up from 7.1% in August. Key contributors to the increase included:

Housing, water, electricity, gas, and other fuels: +4.1%

Governor Hakuziyaremye said that while inflation continues, the measures taken over the past three years have mitigated extreme depreciation and strengthened confidence in the Rwandan Franc.