The decision is contained in Presidential Order No. 011/01 of February 27, 2026, which revokes the legal tender status of several older series of these banknotes.
The measure will take effect 12 months after the order is published in the Official Gazette of the Republic of Rwanda, giving the public time to exchange the notes.
Among the banknotes to be phased out are the Rwf 500 and Rwf 1,000 notes introduced through a presidential order issued on September 20, 2004. The Rwf 500 note later introduced on September 10, 2013 will also be withdrawn.
The order further removes the Rwf 1,000 banknote introduced on October 15, 2015 and the Rwf 2,000 banknote issued on December 31, 2007.
Also affected are two versions of the Rwf 5,000 banknote that were introduced through presidential orders dated June 5, 2004 and August 12, 2009.
Article four of the order states that the withdrawal will only become effective one year after the decree is officially published in the Official Gazette.
Newer versions of the Rwf 500 and Rwf 1,000 notes currently in circulation were introduced through a presidential order issued on July 2, 2019.
More recently, new designs for the Rwf 5,000 and Rwf 2,000 banknotes were introduced through a presidential order published on August 30, 2024.
At the time, the National Bank of Rwanda (BNR) explained that the redesign was necessary because the existing notes had been in use for many years. For example, the Rwf 2,000 note had last been issued in December 2014.
The central bank said the update was meant to incorporate modern technology that strengthens security features and reduces the risk of counterfeiting.
BNR also revised the material used to produce the banknotes to make them more durable while ensuring that their design reflects Rwanda’s current development and economic progress.
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