Burundian Franc
Franc burundais
Currency Code
BIF
ISO 108
Symbol
BIF
Native: FBu
Decimal Digits
0
Rounding: 0
Countries
BI
Using this currency
Currency Units
Major Unit
Name: franc
Symbol: FBu
Minor Unit
Name: centime
Symbol:
Value: 0
Banknotes
Frequently Used
100 FBu500 FBu1000 FBu2000 FBu5000 FBu10000 FBu
Rarely Used
20 FBu50 FBu
Coins
Frequently Used
1 FBu5 FBu10 FBu50 FBu
Plural Forms
English Plural
Burundian francs
Native Plural
Francs burundais
Overview
The Burundian Franc is the currency of Burundi, managed by the Bank of the Republic of Burundi. The economy is primarily agricultural and the currency has faced challenges due to political instability.
Economy
- Burundi is a member of AU, EAC, CEPGL, COMESA, ECCAS.
- Main industries include: Light consumer goods, Assembly of imported components, Public works construction, Food processing.
- Burundi is part of the World Trade Organization.
- Imports are capital goods, petroleum products, foodstuffs.
- Major exports include coffee, tea, sugar, cotton, hides.
- GDP: $3.7 billion (2023 est.).
- GDP per capita: $289 (2023 est.).
- Unemployment rate: 1.6% (2014 est.).
- Inflation rate: 18.8% (2023 est.).
- Main trading partners: United Arab Emirates, Democratic Republic of Congo, Germany, China, Belgium, Pakistan.
- Trade agreements: EAC Common Market, COMESA FTA, Various bilateral agreements.
History
- Previous currencies used: Rwanda and Burundi franc, Belgian Congo franc.
- The Burundian franc was introduced in 1964, replacing the Rwanda and Burundi franc after the two countries separated their monetary systems.
- 1964: BIF introduced, replacing Rwanda and Burundi franc
- 1966: Bank of the Republic of Burundi established
- 1993-2005: Civil war period with economic disruption
- 2007: Peaceful elections and economic stabilization efforts
- 2015: Political crisis and economic challenges
- Exchange rate peg: Free floating.
General Information
- ISO 4217 Code: BIF
- Symbols: BIF/Fr
- Currency Subunits: 100 centimes
- Central Bank: Bank of the Republic of Burundi
- Monetary Policy: Managed floating exchange rate with focus on controlling inflation and supporting economic stability despite limited resources.
- Bills: 10 BIF, 20 BIF, 50 BIF, 100 BIF, 500 BIF, 1000 BIF, 2000 BIF, 5000 BIF, 10000 BIF
- Coins: 1 franc, 5 francs, 10 francs, 50 francs
- USD Exchange Rate: Variable (approximately 2850-3000 BIF per USD)
- Pegged To: None (Floating)
- Capital: Gitega (political), Bujumbura (economic)
- Population: 12,889,576 (2023 est.)
- Area: 27,830 km²
- Languages: Kirundi (official), French (official), English (official), Swahili
- Time Zones: UTC+2 (Central Africa Time)
- Government Type: Presidential republic
- Head of Government: President (head of state and government)
- Independence: July 1, 1962 (from Belgium-administered UN trusteeship)
- Ethnic Groups: Hutu 85%, Tutsi 14%, Twa 1%
- Religions: Roman Catholic 58.6%, Protestant 35.3%, Muslim 3.4%, Other 1.3%, None 1.4%
- Literacy Rate: 68.4% (2018 est.)
- Transport: Bujumbura International Airport, limited road network, port on Lake Tanganyika, no railways
- Communications: Limited telecommunications, 5.8% internet penetration, growing mobile coverage
- Energy: Hydroelectric 73%, Biomass 27%, limited access to electricity
- Countries Using This Currency: Burundi
- Data Sources: Central Bank: Bank of the Republic of Burundi (brb.bi), Economic Data: Institute of Statistics and Economic Studies of Burundi, World Bank, IMF, Trade Data: Burundi Revenue Authority, Demographic Data: Institute of Statistics and Economic Studies of Burundi, Geographic Data: Institute of Statistics and Economic Studies of Burundi, Historical Data: Bank of the Republic of Burundi archives
- Last Updated: 2025