BNR extends old Banknotes exchange deadline

The National Bank of Rwanda (BNR) has extended the deadline for exchanging old Rwandan franc banknotes through financial institutions by 29 days, giving members of the public additional time to replace the affected currency.

In a public notice issued on Sunday, November 1, 2026, the central bank announced that the deadline, which was initially scheduled for November 1, has been moved to November 30, 2026.

The extension forms part of the ongoing demonetization exercise targeting specific older banknote series, following a Presidential Order published in the Official Gazette on March 2, 2026.

Under the revised arrangement, holders of the affected banknotes will be able to exchange them through financial institutions until November 30.

From December 1, 2026, to March 1, 2027, exchanges will be conducted exclusively at the BNR headquarters in Kiyovu, Kigali, and its branches across the country.

The banknotes targeted by the exercise include Rwf500 notes issued on July 1, 2004, and January 1, 2013; Rwf1,000 notes issued on July 1, 2004, and May 1, 2015; Rwf2,000 notes issued on October 31, 2007; and Rwf5,000 notes issued on April 1, 2004, and February 1, 2009.

BNR said the exchange exercise will conclude on March 1, 2027, marking the end of the 12-month demonetization period. After that deadline, the affected banknotes will no longer be accepted as legal tender.

However, the central bank clarified that not all banknotes in these denominations are being withdrawn from circulation.

The Rwf500 and Rwf1,000 notes issued on February 1, 2019, will remain valid. Similarly, the Rwf2,000 and Rwf5,000 notes issued on December 1, 2014, and June 28, 2024, will continue to be accepted as legal tender.

The demonetization process is part of the central bank’s efforts to improve the quality and security of currency circulating in the country.

In an earlier explanation, BNR officials said the withdrawal was intended to maintain high-quality banknotes, strengthen protection against counterfeiting and reduce the number of different banknote series in circulation.

The central bank also highlighted the importance of improved security features in newer banknotes.

BNR has urged individuals, businesses and other holders of the affected currency to take advantage of the extended period and complete the exchange before the final deadline.

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