The National Bank of Rwanda (NBR) is taking aggressive steps to eliminate illegal local trading in U.S. dollars as part of its broader effort to strengthen the national currency. Under the new measures, dollar transactions are permitted only for importers and exporters.

According to the NBR, individuals or businesses found providing information about foreign exchange rates, trading in foreign currencies, or selling goods and services priced in dollars will face significant penalties. First-time offenders could be fined between 5 million and 10 million Rwandan francs, with repeat violations attracting even harsher penalties.

This crackdown is aimed at reinforcing the value of the Rwandan franc and giving the government greater control over its monetary policy. Officials say that reducing reliance on foreign currency in domestic markets will help address broader economic and social challenges