National Bank of Rwanda amends rules on who may transact in foreign currency and how to obtain authorization

The National Bank of Rwanda has issued an amended directive governing transactions in foreign currencies by non-licensed persons, updating which businesses and individuals may transact in foreign currency in Rwanda and setting out the requirements and procedures for obtaining authorization, in line with the revised framework for foreign exchange operations. Directive No. 4230/2025-00042 amends the 2023 directive on transactions in foreign currencies by non-licensed persons. It reiterates that the Rwanda franc remains the sole legal tender, while defining categories of permitted foreign currency users based on the nature of their activities. The directive also sets an enforcement mechanism to be jointly implemented by the Rwanda Inspectorate, Competition and Consumer Protection Authority, the Rwanda National Police and Local Government Authorities, in collaboration with the National Bank of Rwanda.