What currency is used in Rwanda?
What currency is used in Rwanda? Like in any other destination or country, traveling to Rwanda you will need some money to transact anything since it’s a cash-based country. Rwanda franc is the official currency used in Rwanda. But because of the rapid growth of tourism and the fact that tourism contributes much to the development of Rwanda, the United States dollar(USD) is preferably the best choice for tourists and Rwandan citizens especially those dealing in the tourism industry.
Most of the prices used for tourist marketing in Rwanda are normally United States dollars, Euros, and the Great Britain pound. These are majorly used for exchanging prices for the Rwandan currency. In some instances, hotels, big restaurants, and the airline services will charge or ask you to pay in dollars. Still, the Rwandan franc will be used and accepted in many daily activities but not really on market exchange rates.
While exchanging it is better to use 50 or 100 noted for the best exchange rate services as compared to when you use fewer notes when you can get less money during exchange rates. It is better to use the local currency Rwandan franc when paying for bar services or when tipping since it becomes easy for these people to use the local currency instead of foreign currency.
Probably there are also several banks in Rwanda that you can use to get money or exchange for local currency. Banks can be effective especially when you possess your credit cards since transactions using this kind of money attract fewer charges. You can as well use a traveler’s cheque as long as you show the proof that the cheque belongs to you. When using a bank you are likely to receive a lower rate though it is time-consuming and it involves a lot of hardships.
In Rwanda there a lot of forex bureaus that provide the best and efficient exchange rate services in Rwanda as compared to banks which delay. Forex bureau is circulated Kigali city and you can comfortably walk around exchange, money and go ahead with your business. Visitors staying at different hotels can also exchange their money here though the exchange rates are always lower. It is good to use the service of the official forex bureau for better services, trying to exchange dollars at a local restaurant is not recommended as you might receive lesser value for your money.
You can also use the Automatic machines to avoid carrying large sums of money. By using a visa card tour can use ATM that is available in Kigali and Rwanda to serve you well.
In conclusion, Rwanda’s official currency is the Rwandan franc that is used is a day to day transaction of business however when it comes to tourism majorly, United States dollars, Euros, and the Pounds are the major users and can be exchanged via various money exchange service available within the country.