Central Banks and Cash Round-Up

This month’s coverage of cash information in central bank annual reports contains news from the central banks of Rwanda and Uganda.

National Bank of Rwanda (NBR)

Cash in circulation: in the year, the NBR says it successfully fulfilled its primary role of issuing legal tender in suitable denominations. The value of CIC grew by 6.36%, increasing from RWF 352.57 billion in 2021/22 to RWF 375 billion in 2022/23.

Trends in cash cycle management: there was a 19% increase in total cash deposits of banknotes, reaching RWF 588.51 billion, compared to RWF 494.58 billion the previous year.

Similarly, total cash withdrawals increased by 2.1% to RWF 532.69 billion from RWF 521.96 billion.

The Cash Automation Centre Project, aimed at enhancing cash management processes, was successfully concluded. The project involved automating the NBR cash vault management system, currency storage, and operations.