The National Bank of Rwanda (BNR) has extended by one month the deadline for exchanging selected demonitised banknotes through financial institutions, giving holders until November 30, 2026, to replace them. The deadline had initially been set for November 1, according to a public notice issued by the central bank. ALSO READ: Why central bank is retiring old bank notes The banknotes being withdrawn are specific issues of four denominations including Rwf500 notes issued on July 1, 2004, and January 1, 2013, Rwf1,000 notes issued on July 1, 2004, and May 1, 2015, Rwf2,000 notes issued on October 31, 2007 and Rwf5,000 notes issued on April 1, 2004, and February 1, 2009. However, other notes of the same denominations remain in circulation and continue to be legal tender. These include Rwf500 and Frw1,000 notes issued on February 1, 2019, and Rwf2,000 and Rwf5,000 notes issued on December 1, 2014, and June 28, 2024. This means that the denomination alone does not determine whether a banknote is affected, the public need to check the issue date printed on their notes before deciding whether they can continue using them or need to exchange them. ALSO READ: How fraudsters distribute fake currency From December 1, 2026, to March 1, 2027, holders who will still have the demonitised banknotes will only be able to exchange the affected banknotes at BNR headquarters in Kigali, and its branches across the country. BNR said the exchange exercise will end completely March 1, 2027. The notes will no longer be accepted for transactions, and exchange services will not be available. According to the central bank, newer banknotes include enhanced security features, such as colour-changing elements, the thread changes colour from green to blue depending on the angle at which the note is held, a key difference from older series that are now being phased out. Beyond the colour-changing elements, the new Rwf2,000 and Rwf5,000 banknotes introduced in June 2024 have additional security measures, including a wider, windowed security thread containing microtext with the letters “BNR” and the respective denomination. The two denominations also feature a repositioned watermark, comprising the National Coat of Arms and the letters “BNR”, now located on the right-hand side rather than the left as on the previous series. Their designs have also been updated, with the Rwf5,000 note featuring the Kigali Convention Centre and traditional Rwandan baskets, while the Rwf2,000 note depicts Lake Kivu mountains and roasted coffee beans.
