The Burundi Franc (BIF) serves as the official currency of Burundi, a small landlocked country in East Africa. 

Since its introduction in 1960, the Burundi Franc has played a crucial role in the daily economic activities of its citizens, enabling them to buy goods, pay for services, and conduct business transactions. 

Knowing the Burundi Franc is essential for both residents and visitors, as it provides insight and facilitates smoother transactions during everyday life.

What does Burundi Franc (BIF) mean

The Burundi Franc (BIF is the official currency of Burundi, a small, landlocked country in East Africa. 

The currency is abbreviated as BIF and is issued by the Bank of the Republic of Burundi. It is subdivided into 100 centimes, but coins in centimes are rarely used due to inflation. 

The value of the Burundi Franc is typically low compared to major global currencies, and it is used primarily within Burundi for everyday transactions.

How the Burundi Franc is Represented

• Symbol: FBu
• Code: BIF

When you see the symbol FBu, it represents the Burundi Franc. The currency code BIF is used in international contexts. 

History of the Burundi Franc

The history of the Burundi Franc began in 1960 when the currency replaced the Burundian Rupee. 

The Burundi Franc was introduced to create a stable monetary system for the country. 

Over the years, the currency has undergone several changes, including updates to the designs of banknotes and coins.

During periods of political instability and economic challenges, the value of the Burundi Franc has fluctuated significantly. 

Efforts have been made to stabilize the currency and improve the economy.

Periods of the Burundi Franc (BIF)

The Burundi Franc (BIF) has undergone several changes throughout its history. Below are the four significant periods that mark the evolution of the currency:

1. The Burundi Franc (1960)

The Burundi Franc was introduced in 1960, replacing the Burundian Rupee. This change came after Burundi gained independence from Belgium. 

The new currency was initially pegged to the Belgian Franc, which provided stability during its early years. 

The introduction of banknotes and coins represented a significant step in establishing Burundi’s national identity.

2. 1987

In 1987, the Burundi government decided to decimalize the Franc, dividing it into 100 centimes. This move aimed to simplify transactions and align the currency system with international standards. 

The new notes and coins introduced during this period featured various national symbols and images significant to Burundian culture.

3. 1990s

The 1990s were challenging for the Burundi Franc, as the country faced severe economic issues, including political instability and civil war. 

Hyperinflation became rampant, significantly diminishing the value of the currency. 

During this period, the government issued higher denominations of banknotes to cope with the devaluation, including notes as high as 10,000 BIF.

4. 2000s to Present

In the early 2000s, Burundi began implementing economic reforms to stabilize the currency and restore confidence in the financial system. 

The government introduced measures to curb inflation and improve monetary policy. 

Today, the Burundi Franc continues to exist, albeit facing ongoing challenges related to economic stability and external factors such as global commodity prices

Banknotes of the Burundi Franc

The Burundi Franc has various banknotes that come in different colors and sizes. Here’s a breakdown of the main denominations:

• 1 Franc (1 FBu): This banknote is green and features an image of the national coat of arms of Burundi. The size is around 75 x 50 mm.
• 5 Francs (5 FBu): The 5 Franc note is blue. It also shows the national coat of arms and measures about 85 x 55 mm.
• 10 Francs (10 FBu): This note is brown and features a coat of arms as well. The size is approximately 85 x 55 mm.
• 20 Francs (20 FBu): The 20 Franc banknote is red. It includes an image of a farmer working in the fields. This note is about 100 x 60 mm.
• 50 Francs (50 FBu): This banknote is purple and shows a fisherman with his catch. It measures around 100 x 60 mm.
• 100 Francs (100 FBu): The 100 Franc note is orange and displays an image of a traditional dancer. It is also approximately 100 x 60 mm.
• 500 Francs (500 FBu): This banknote is yellow. It features an image of a school, highlighting the importance of education. The size is about 120 x 65 mm.
• 1,000 Francs (1,000 FBu): The 1,000 Franc note is green and depicts a family at home, symbolizing family values. It measures around 120 x 65 mm.
• 5,000 Francs (5,000 FBu): This is the highest denomination of the Burundi Franc. It is blue and features a portrait of a famous Burundian leader. The size is approximately 130 x 70 mm.

Coins of the Burundi Franc

Burundi also uses coins, which are available in smaller denominations. They are 1, 5, 10, 25, 50, and 100 Francs.

Exchange Rate OF Burundi Franc (BIF) with Other Currencies

Below are the current exchange rates for the Burundian Franc (BIF) against other major currencies:

1. US Dollar (USD)

• 1 USD = 2,912.03 BIF
• 1 BIF = 0.000343 USD​

2. Euro (EUR)

• 1 EUR = 3,072.15 BIF
• 1 BIF = 0.000325 EUR​

3. British Pound (GBP)

• 1 GBP = 3,544.47 BIF
• 1 BIF = 0.000282 GBP​

These rates are mid-market values and can vary slightly depending on the source and currency service providers. 

Make sure to check real-time rates if you are conducting international transactions.

Example of Converting Burundi Franc (BIF) to U.S. Dollars (USD)

The exchange rate between the Burundi Franc (BIF) and the U.S. Dollar (USD) is not fixed, meaning it can change depending on the market.

For example, if the USD/BIF exchange rate is 2,850 BIF, this means it takes 2,850 Burundi Francs to buy one U.S. dollar.

If you want to convert it the other way around, to see how much USD you need to buy one BIF, you simply divide 1 by the current exchange rate. For instance, 1 / 2,850 = 0.00035. This means it costs $0.00035 to buy one BIF.

If the USD/BIF exchange rate is 2,850, you need 2,850 BIF to buy 1 USD, and it costs $0.00035 to buy 1 BIF.

Conclusion

The Burundi Franc (BIF) is not just a means of exchange but a vital part of Burundi’s identity and economic framework. 

With a variety of banknotes and coins, each designed to showcase the nation’s culture and values, the currency plays a significant role in the lives of Burundians. 

From its historical journey to its current relevance, the Burundi Franc helps facilitate trade, support local businesses, and contribute to the overall economy of the country. 

You may be a resident or a visitor, knowing the Burundi Franc will enhance your experience in Burundi and enable you to navigate the local market with ease.