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Rwanda Central Bank Says Has Dollars to Fight Franc Volatility

  • Rwanda in talks for IMF facility to boost franc, no deal yet
  • Currency drops as much as 3.7% vs dollar to record low

Rwanda has sufficient dollars to smooth volatility in its foreign-exchange market and is in talks to raise a stabilizing fund for its currency, central bank Governor John Rwangombwa said.

“We have enough USD to protect us against any crisis and fight franc volatility,” Rwangombwa told reporters Thursday in the capital, Kigali.