Burundian Franc (BIF)

Basic Concepts of Burundi Franc

Burundi franc is the official currency of the Republic of Burundi, issued and managed by the Central Bank of Burundi, with the currency code BIF.

Country Area of Use

The Burundi franc mainly circulates in Burundi, which is the only legal tender in the country for daily transactions and economic activities.

Unit and Denomination

The unit of Burundi franc's coinage is cent, 1 franc is equal to 100 cents. Common bill denominations include 100, 500, 1,000, 2,000, 5,000 and 10,000 francs, while coin denominations are 1, 5, 10 and 50 francs.

Historical Background

The Burundian franc was first issued in 1964, replacing the previous Rwandan-Burundian franc to match Burundi's need for monetary autonomy after its independence from Belgian colonial rule. Its exchange rate was pegged to major international currencies for a long time to maintain economic stability.