The National Bank of Rwanda (BNR) has observed that with the low economic performance and falling of international prices of commodities that Rwanda exports will mean a low pulse of growth.
The governor of BNR, John Rwangombwa said that banks continue to be among the top of sectors boosting Rwanda’s economy. The later occupies 67% of Rwanda financial markets leaving 17.1% for insurance companies and 6.6% for micro finance institutions.
“Rwanda’s economy had a good performance in the first three trimesters of 2015, realizing an increase of 6.1% in the first trimester, 7.1% in the second and 7.6% in the third trimester,” he said.
Economic indices indicate that economic growth reached at 7.0 % in 2015 and in 2016 BNR expects the economic growth at 6.3%.
Devaluation of US dollar to Rwandan franc hit an all time low at 7.6% in 2015 from 3.6% in 2014 while the cost of one dollar rose from Rwf 649.37 to Rwf 747.41.
“It is the first time Rwanda Franc lost value in such way in the past ten years.
However, the situation is not critical compared to neighboring countries in the region,” he said.
The Euro gained against Rwandan Franc by 3.2% and the British Pound Sterling by 2.8%. Compared to Kenyan and Ugandan shillings Rwandan franc gained weight against Kenya Shilling by 4.6%, 13.5%to Ugandan shilling.
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