The National Bank of Rwanda (BNR) has announced that the country currently holds enough U.S. dollar reserves to finance all its import needs for up to 4.7 months without requiring any additional foreign exchange. At the same time, Rwanda is preparing to begin accumulating gold reserves.
BNR revealed that Rwanda will start investing in gold as a national reserve asset, similar to how the country has traditionally used U.S. dollars. This new strategy aims to reinforce economic stability and resilience by diversifying reserve assets and reducing exposure to geopolitical risks.
According to Soraya Hakuziyaremye, the Governor of BNR, gold investment is among the bank’s initiatives to ensure long-term macroeconomic security.
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Economic analysts have welcomed the decision, emphasizing that many other countries are also turning to gold reserves as a shield against global trade tensions and political uncertainties. However, they caution against placing 100% of reserves in gold, advising a balanced reserve portfolio.
The gold reserve initiative will complement the existing U.S. dollar reserves.
So far, no specific amount has been disclosed regarding how much Rwanda will invest in gold for its national reserves.