{"id":4000089857,"date":"2026-11-10T17:32:32","date_gmt":"2026-11-10T15:32:32","guid":{"rendered":"https:\/\/new.igihe.com\/french\/?p=4000089857"},"modified":"2026-11-10T18:15:47","modified_gmt":"2026-11-10T16:15:47","slug":"lor-represente-12-des-reserves-destinees-aux-investissements-de-la-bnr-en-2025-2026","status":"publish","type":"post","link":"https:\/\/new.igihe.com\/french\/lor-represente-12-des-reserves-destinees-aux-investissements-de-la-bnr-en-2025-2026\/","title":{"rendered":"L\u2019or repr\u00e9sente 12 % des r\u00e9serves destin\u00e9es aux investissements de la BNR en 2025\/2026"},"content":{"rendered":"\n

Selon le rapport annuel 2025\/2026 de la banque centrale, les r\u00e9serves de change \u00e9taient r\u00e9parties en deux cat\u00e9gories : 86,2 % destin\u00e9s aux investissements et 13,8 % affect\u00e9s aux besoins de liquidit\u00e9s \u00e0 court terme. Les 12 % investis dans l\u2019or concernent uniquement la premi\u00e8re cat\u00e9gorie, et non l\u2019ensemble des r\u00e9serves.<\/p>\n\n\n\n

Cette strat\u00e9gie vise \u00e0 diversifier les actifs, \u00e0 pr\u00e9server le capital de la banque et \u00e0 limiter son exposition aux fluctuations des march\u00e9s internationaux. \u00c0 fin juin 2026, le total des actifs de la BNR d\u00e9passait 4 280 milliards de francs rwandais, en hausse de 6 % sur un an. Cette progression est principalement attribu\u00e9e aux investissements \u00e0 long terme, notamment \u00e0 l\u2019acquisition d\u2019or sur les march\u00e9s internationaux.<\/p>\n\n\n\n

La BNR a \u00e9galement r\u00e9investi les revenus g\u00e9n\u00e9r\u00e9s par ses placements afin de pr\u00e9server son capital.<\/p>\n\n\n\n

Outre l\u2019or, les investissements \u00e9taient r\u00e9partis entre les obligations d\u2019\u00c9tat \u00e0 moyen terme (15,7 %), celles \u00e0 court terme (14,2 %), diverses obligations g\u00e9r\u00e9es par les \u00e9quipes de la BNR (14,2 %) et les Eurobonds \u00e9mis par le Rwanda sur les march\u00e9s internationaux (4 %). Trois autres cat\u00e9gories de placements g\u00e9r\u00e9es par des institutions externes repr\u00e9sentaient 26,2 %.<\/p>\n\n\n\n

L\u2019ensemble de ces placements a g\u00e9n\u00e9r\u00e9 un rendement de 3,261 % en 2025\/2026, l\u00e9g\u00e8rement sup\u00e9rieur \u00e0 l\u2019indice de r\u00e9f\u00e9rence fix\u00e9 \u00e0 3,253 %.<\/p>\n\n\n\n

Au cours de cet exercice, la banque centrale a \u00e9galement \u00e9tudi\u00e9 les possibilit\u00e9s d\u2019investissement sur le march\u00e9 obligataire chinois, conform\u00e9ment aux orientations de son conseil d\u2019administration.<\/p>\n\n\n\n

La diversification des placements vise notamment \u00e0 renforcer la protection des r\u00e9serves de change et la capacit\u00e9 du pays \u00e0 faire face aux chocs \u00e9conomiques. \u00c0 fin juin 2026, celles-ci permettaient de couvrir 4,1 mois d\u2019importations, d\u00e9passant ainsi le seuil minimal de quatre mois fix\u00e9 par la politique nationale de gestion des r\u00e9serves.<\/p>\n\n\n\n

Ces r\u00e9serves permettent au Rwanda de faire face aux impr\u00e9vus internationaux, aux fluctuations des march\u00e9s financiers et aux chocs \u00e9conomiques. Elles contribuent \u00e9galement \u00e0 la gestion du taux de change et au r\u00e8glement des transactions en devises \u00e9trang\u00e8res.<\/p>\n\n\n\n

La BNR applique par ailleurs des r\u00e8gles destin\u00e9es \u00e0 \u00e9viter une concentration excessive des investissements dans une seule institution, un seul pays ou une seule cat\u00e9gorie d\u2019actifs.<\/p>\n\n\n\n

Sur le plan financier, la banque centrale a cl\u00f4tur\u00e9 l\u2019exercice 2025\/2026 avec un exc\u00e9dent de 137,5 milliards de francs rwandais, contre 150,2 milliards lors de l\u2019exercice pr\u00e9c\u00e9dent.<\/p>\n\n\n\n

Ses d\u00e9penses ont augment\u00e9 de 19,9 %, atteignant 98 milliards de francs rwandais. Cette hausse est principalement li\u00e9e \u00e0 l\u2019augmentation des charges de personnel, \u00e0 l\u2019\u00e9largissement de ses missions, \u00e0 la restructuration de son organisation et de son fonctionnement, ainsi qu\u2019au paiement des licences de logiciels informatiques.<\/p>\n\n\n\n

\"\"
La Banque nationale du Rwanda (BNR) a consacr\u00e9 12 % de la part de ses r\u00e9serves de change destin\u00e9e aux investissements \u00e0 l\u2019achat d\u2019or au cours de l\u2019exercice budg\u00e9taire 2025\/2026<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

La Banque nationale du Rwanda (BNR) a consacr\u00e9 12 % de la part de ses r\u00e9serves de change destin\u00e9e aux investissements \u00e0 l\u2019achat d\u2019or au cours de l\u2019exercice budg\u00e9taire 2025\/2026, dans le cadre de sa strat\u00e9gie de diversification des placements et de pr\u00e9servation de ses actifs.<\/p>\n","protected":false},"author":452,"featured_media":4000074510,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"archived_slugs":[],"footnotes":"","igh_game_id":0},"categories":[7559],"tags":[9962,7601],"byline":[7717],"hashtag":[],"class_list":["post-4000089857","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-justice-33","tag-editors-choice","tag-main-highlight-home","byline-igihe"],"bylines":[{"id":7717,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":393,"twitter_handle":""}],"contributors":[{"id":7717,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":393,"twitter_handle":""}],"featured_image":{"id":4000074510,"url":"https:\/\/fr-images.igihe.com\/IMG\/jpg\/ro-6.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":0,"height":0,"sizes":{"thumbnail":{"url":"https:\/\/fr-images.igihe.com\/IMG\/jpg\/ro-6.jpg","width":1,"height":1},"medium":{"url":"https:\/\/fr-images.igihe.com\/IMG\/jpg\/ro-6.jpg","width":1,"height":1},"medium_large":{"url":"https:\/\/fr-images.igihe.com\/IMG\/jpg\/ro-6.jpg","width":1,"height":1},"large":{"url":"https:\/\/fr-images.igihe.com\/IMG\/jpg\/ro-6.jpg","width":1,"height":1},"full":{"url":"https:\/\/fr-images.igihe.com\/IMG\/jpg\/ro-6.jpg","width":0,"height":0}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/french\/wp-json\/wp\/v2\/posts\/4000089857","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/french\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/french\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/french\/wp-json\/wp\/v2\/users\/452"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/french\/wp-json\/wp\/v2\/comments?post=4000089857"}],"version-history":[{"count":1,"href":"https:\/\/new.igihe.com\/french\/wp-json\/wp\/v2\/posts\/4000089857\/revisions"}],"predecessor-version":[{"id":4000089858,"href":"https:\/\/new.igihe.com\/french\/wp-json\/wp\/v2\/posts\/4000089857\/revisions\/4000089858"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/french\/wp-json\/wp\/v2\/media\/4000074510"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/french\/wp-json\/wp\/v2\/media?parent=4000089857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/french\/wp-json\/wp\/v2\/categories?post=4000089857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/french\/wp-json\/wp\/v2\/tags?post=4000089857"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/french\/wp-json\/wp\/v2\/byline?post=4000089857"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/french\/wp-json\/wp\/v2\/hashtag?post=4000089857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}