5 Francs

The Banque d'Emission du Rwanda et du Burundi was a transitional institution — created in 1960 to manage currency across two territories that would become separate nations in 1962. By the time this 1964 note was issued, both Rwanda and Burundi had been independent for two years, yet the joint bank continued operating briefly while each country developed its own central banking structure. Rwanda established the Banque Nationale du Rwanda that same year, making this issue among the final notes circulated under the shared authority.

Thomas De La Rue produced the series from their London facility. Pick catalogues this as P#1, the first entry for the issuer — appropriate given how short its issuing life actually was.