By Bank of the Republic of Burundi….
The Bank of the Republic of Burundi (BRB), in a constant effort to improve the quality and maintenance of its bank notes, launched a new 1,000 Burundian franc (BIF) banknote this Tuesday, September 1, 2015.
Like the recent BIF 10,000, 5,000, 2,000 and 500 bills, the BIF 1,000 is manufactured according to modern international standards and with a unique style and architecture. It differs from the older circulating version by its visual appearance, its smaller size and its improved durability and security features.
Utilizing a primarily green color scheme, the new BIF 1,000 note features cows at pasture on the front, and a map of Burundi with a banana tree inside on the back.
Besides the traditional marks (the shield and flag of Burundi, the BRB logo and signatures from the Bank’s Governor and Vice-Governor, and the note’s serial number), new security features include:
- A metallized security thread embedded in the paper
- A three-dimensional shadow watermark with the portrait of President Melchior Ndadaye
- A two-tone watermark with the number 1000 located in the iridescent stripe to the right
- Everfit film layering
For a three-month period of “dual circulation”, it will be possible to pay for purchases with either the old note or the new one. During this time, the public can exchange the old BIF 1,000 notes for new bills at any bank or financial institution in the country, without commission. After this period, i.e. after 1 December 2015, the older BIF 1,000 banknotes will lose their legal tender status. The Bank of the Republic of Burundi will continue to exchange old notes for an as-yet-to-be-determined length of time after 1 December, but only at a 5% discount.
As of the time of publication, one Burundian franc (BIF 1) trades for approximately $0.00065 USD.