20 Francs

Rwanda's first national banknote series, issued following independence from Belgian-administered UN trusteeship in 1962. The Banque Nationale du Rwanda was itself newly established that year, and this note — Pick 1 in the catalogue — is the opening entry of an entirely new monetary system replacing the Rwandan franc notes previously issued under the Banque d'Émission du Rwanda et du Burundi, which had served both territories jointly until their separation.

Thomas De La Rue's involvement ensured technically competent production, as was typical for newly independent African states in the early 1960s that lacked domestic printing infrastructure. The series is genuinely scarce in higher grades, partly due to limited initial issue volumes and the political turbulence Rwanda experienced through the decade.