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500 Francs

Issuer Banque Nationale du Rwanda
Year 1964-1976
Type Standard circulation banknote
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Reverse lettering Banki Nasiyonali y'u Rwanda AMAFRANGA 500 ITEGEKO LIHANA UMUNTU WESE UZIGANA IYI NOTI
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Protection type Watermark
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Comments

Rwanda's first independent currency series was issued following the country's departure from the franc zone shared with Burundi — the two nations had circulated identical Banque d'Émission du Rwanda et du Burundi notes until their monetary union collapsed in 1964. Thomas De La Rue produced this series as Rwanda established its own central bank from scratch, a process that required negotiating printing contracts before the country had any meaningful foreign exchange reserves to back them.

The single watermark security feature was minimal even by early 1960s African standards, but entirely typical of inaugural series issued under tight fiscal constraints. Pick 9 spans twelve years of issue dates, suggesting the design was never updated despite significant political turbulence during the Kayibanda presidency.

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