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Burundi: Burundi Franc
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The Burundi Franc (BIF) is the official currency for Burundi, a small land-locked nation in Africa. It was first issued in 1963. As of March 2005, the exchange rate was 547.96 to 1 USD. Notes come in denominations of 10, 50, 100, 500, 1000, 2000, and 5000. Coins come in denominations of 1, 5, and 10.
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Burundi's largest industry is agriculture, which accounted for 58% of GDP in 1997. Coffee is the nation's biggest revenue earner with 78% of all exported goods. Other agriculture products include cotton, tea, maize, sorghum, sweet potatoes, bananas (of which Burundi is one of the world's ten largest producers), manioc (tapioca); beef, milk, and hides. Besides agriculture, other industries include light consumer goods such as blankets, shoes, soap; assembly of imported components; public works construction; food processing. The currency is the Burundian franc (BIF).
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Burundi is a landlocked republic of central Africa. Area: 27,816 sq km (10,740 sq mi). Pop. (1996 est.): 5,943,000. Cap.: Bujumbura. Monetary unit: Burundi franc, with (Oct. 11, 1996) a free rate of FBu 220.46 to U.S. $1 (FBu 347.29 = £ 1 sterling).
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MONETARY UNIT: The Burundi franc (BFr) is a paper currency. There are coins of 1, 5, and 10 francs, and notes of 10, 20, 50, 100, 500, 1,000, and 5,000 francs. BFR1 = $0.0009487 (or $1 = BFR11054) as of May 2003.
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Burundi is a landlocked republic of central Africa. Area: 27,816 sq km (10,740 sq mi). Pop. (1994 est.): 5,799,000 (including 800,000 Burundian refugees living mostly in Tanzania and Zaire). Cap.: Bujumbura. Monetary unit: Burundi franc, with (Oct. 7, 1994) a free rate of FBu 248.44 to U.S. $1 (FBu 395.15 = £ 1 sterling).
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Insurance companies operating in Burundi include the Commercial Union of Insurance and Reinsurance (Union Commerciale d'Assurances et de Réassurances-UCAR), the partly state-owned Insurance Co. of Burundi (Société d'Assurances du Burundi-SOCABU), and a branch of the General Insurance of France. Motor vehicle insurance is the only compulsory coverage.
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Burundi Franc