Burundi: the central bank announces the reopening of foreign exchange bureaus

This Friday, the Bank of the Republic of Burundi (BRB) announced two important measures in the country to “strengthen macro-economic stability”. Foreign Exchange traders are allowed to reopen in addition to the authorization to receive foreign currency transfers. INFO SOS Médias Burundi

It was the new governor of the BRB who announced the measure to the local press this Friday in the economic capital Bujumbura.

“[…], in order to strengthen macro-economic stability, the BRB is embarking on a series of reforms with a view to modernizing its monetary policy”, said Dieudonné Murengerantwari.

He said that the forex bureaus will reopen and that the recipients of instant transfers can upon announcement, collect their money in foreign currencies in their respective accounts.

Mr. Murengerantwari explains that the central bank took such measures after an in-depth analysis of the country’s macro-economic situation. He specifies that modernization will go through the calibration of the exchange rate policy.

The two measures put an end to two other controversial decisions taken in February and March 2020. They were followed by targeted assassinations of money changers and forex traders, including that of the very popular forex trader Jackson Simbananiye known by the nickname of Kirahwata.