| Burundian franc franc burundais (French) |
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| ISO 4217 Code | BIF | ||
|---|---|---|---|
| User(s) |  Burundi |
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| Inflation | 2. ISO 4217 is the International standard describing three-letter codes (also known as the currency code) to define the names of currencies established Burundi (buˈɾundi officially the Republic of Burundi, is a small country in the Great Lakes region of Eastern Africa bordered by Rwanda In economics inflation or price inflation is a rise in the general level of prices of goods and services over a period of time 8% | ||
| Source | The World Factbook, 2006 est. | ||
| Subunit | |||
| 1/100 | centime | ||
| Symbol | FBu | ||
| Coins | 1, 5, 10 francs | ||
| Banknotes | 10, 20, 50, 100, 500, 1000, 2000, 5000, 10000 francs | ||
| Central bank | Burundi Central Bank | ||
| Website | www.brb.bi | ||
The franc (ISO 4217 code is BIF) is the currency of Burundi. Centime (from Latin centesimus) is French for " cent " and is used in English as the name of the fraction Currency in several Francophone A currency sign is a graphic symbol often used as a shorthand for a Currency 's name A central bank, reserve bank, or monetary authority is the entity responsible for the Monetary policy of a country or of a group of member states The Bank of the Republic of Burundi (Banque de la République du Burundi BRB is the Central bank of Burundi. Origins The franc was originally a French Gold coin of 387 g minted in 1360 on the occasion of the release of King John II ("the good", held by the ISO 4217 is the International standard describing three-letter codes (also known as the currency code) to define the names of currencies established Burundi (buˈɾundi officially the Republic of Burundi, is a small country in the Great Lakes region of Eastern Africa bordered by Rwanda It is nominally subdivided into 100 centimes, although coins have never been issued in centimes since Burundi began issuing its own currency. Only during the period when Burundi used the Belgian Congo franc were centime coins issued. The Franc is the Currency of the Democratic Republic of Congo.
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History
The franc became the currency of Burundi in 1916, when Belgium occupied the former German colony and replaced the German East African rupie with the Belgian Congo franc. Germany, officially the Federal Republic of Germany ( ˈbʊndəsʁepuˌbliːk ˈdɔʏtʃlant is a Country in Central Europe. The Rupie was the currency of German East Africa between 1890 and 1916 continuing to circulate in Tanganyika until 1920 The Franc is the Currency of the Democratic Republic of Congo. Burundi used the currency of Belgian Congo until 1960, when the Rwanda and Burundi franc was introduced. The franc was a currency issued for the two Belgian Mandate Territories of Rwanda and Burundi between 1960 and 1964 Burundi began issuing its own francs in 1964.
There are plans to introduce a common currency, a new East African shilling, for the five member states of the East African Community by the end of 2009. The shilling was the Currency issued for use in British controlled areas in East Africa from 1921 until 1969 The East African Community ( EAC) is an intergovernmental organisation comprising five east African countries
Coins
In 1965, the Bank of the Kingdom of Burundi issued brass 1 franc coins. Year 1965 ( MCMLXV) was a Common year starting on Friday (link will display full calendar of the 1965 Gregorian calendar. The Burundian monarchy existed from the 15th century until 1966. Brass is any Alloy of Copper and Zinc; the proportions of zinc and copper can be varied to create a range of brasses with varying properties In 1968, Bank of the Republic of Burundi took over the issuance of coins and introduced aluminum 1 and 5 francs and cupro-nickel 10 francs. Year 1968 ( MCMLXVIII) was a Leap year starting on Monday (link will display full calendar of the Gregorian calendar. The 5 and 10 francs have continuous milled edges. In Numismatics, the term milled coinage (also known as machine-struck coinage) is used to describe coins which are produced by some form of machine rather than by Second types of the 1 and 5 franc coins were introduced in 1976, featuring the coat of arms.
Banknotes
In 1964, notes of the Bank of Emission of Rwanda and Burundi, in denominations of 5, 10, 20, 50, 100, 500 and 1000 francs, were overprinted with the word "Burundi" for use in the country. These were followed in 1964 and 1965 by regular issues in the same denominations by the Bank of the Kingdom of Burundi.
In 1966, notes for 20 francs and above were overprinted by the Bank of the Republic of Burundi, replacing the word "Kingdom" with "Republic". Regular issues of this bank began in denominations of 10, 20, 50, 100, 500, 1000 and 5000 francs. 10 francs were replaced by coins in 1968. 2000 francs notes were introduced in 2001, followed by 10,000 francs in 2004. Photographer Kelly Fajack's image of school kids in Burundi was used on the back of the Burundian 10,000 franc note.
Historical exchange rates
On 3 January 2006, the franc was valued at 925 per US$1. Events 1431 - Joan of Arc is handed over to the Bishop Pierre Cauchon. Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. On January 1, 2008, the franc was valued at 1,129. New Year See also New Year The Ancient Romans began their consular year on January 1st since 153 BC 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common 40 per US dollar.
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See also
External links
- Don's World Coin Gallery - Burundi
- Ron Wise's World Paper Money - Burundi Mirror site
- Tables of Modern Monetary Systems by Kurt Schuler - Burundi Mirror site
- The Global History of Currencies - Burundi
- Global Financial Data data series - Burundi Franc
- Global Financial Data currency histories table (
Microsoft Excel format)
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