The Burundi Franc is the currency of the Republic of Burundi. The ISO code is BIF, the abbreviation is F.Bu.. The symbol for the Burundi Franc is FBu.
History of the currency of Burundi
The currency of Burundi was given by changing colonial rulers for many decades until the republic introduced the Burundi franc as its own currency in 1964. Up until then, Burundi had a common currency with neighboring Rwanda.
After the separation, the central bank of Burundi was founded to manage the still young currency of the country and to ensure a seamless flow of money.
Although Burundi has repeatedly been the scene of political unrest, especially in the course of its recent history, the Burundi franc remained relatively stable for a long time.
In recent years, however, declining goods production and a weak service sector have led to inflation, which has hit the poor, low-income people particularly hard.
In order to prevent a shortage of fuels and fertilizers threatened by unfavorable exchange rates and the resulting rising prices of imported goods, the central bank of Burundi intervened in 2013 and fixed an exchange rate peg for these two groups of goods. However, this measure had little influence on the development of consumer prices.
It is unclear whether and how the government of the Republic of Burundi will react to rising inflation. For a long time there have been plans for a common currency for the five East African countries Kenya, Uganda, Tanzania, Rwanda and Burundi, which could lead to more economic and price stability.
With the currency converter, you can quickly and easily determine the maximum exchange rate in Germany at which euros can be exchanged for Burundi francs. Both the exchange rate and the value of a certain euro amount in Burundi Francs can be read.
Exchange into the currency of Burundi
If you want to travel to Burundi, it is best to change euros to US dollars before you start your journeyas this currency is the easiest to exchange in Burundi and you can also pay visa, exit taxes and flight security fees in US dollars.
However, only notes with a large president’s head that were printed after 1996 are permitted. You can exchange money in Burundi in the big banks in the capital Bujumbura, as well as at the airport and with a little luck in big hotels.
You also have to know that credit cards are rarely accepted in Burundi and there are no ATMs.