The National Bank of Rwanda (BNR) has announced that several old bank notes will cease to be legal tender within the next 12 months. This follows a presidential order issued on February 27, this year providing for the demonetisation of specific banknote series. ALSO READ: Old bank notes set to be demonetised In a public announcement released on March 24, the central bank said the affected notes will no longer be accepted as a means of payment 12 months after March 2, the date the order was published in the Official Gazette. The affected banknotes include Rwf500 from the 2004 and 2013 series, Rwf1,000 from the 2004 and 2015 series, Rwf2,000 from the 2007 series, and Rwf5,000 from the 2004 and 2009 series. The central bank has urged holders of these banknotes to exchange them within the specified timelines to avoid inconvenience. ALSO READ: Central bank issues new Rwf5000, Rwf2000 banknotes Holders can exchange the notes at commercial banks and Umwalimu SACCO branches across the country within the first nine months, from March 2 to November 1. “After this period, the banknotes will only be exchangeable at the National Bank of Rwanda head office in Kiyovu, Kigali, and its branches until March 1,” the central bank said.
