Little interest in foreign currency trade in Bujumbura city

Some foreign currency dealers have temporarily suspended their daily activities in Bujumbura city. H.M, one of the exchange dealers says the demand of foreign currency is very low these days. “Our clients only look for BIF,” he says. Diomède Nduwayo, another dealer says the cost of the dollar has gone down since last week. According to him, a USD decreased from BIF 2900 to BIF 2800 on the black market. A USD is bought at BIF 1873,7 and sold at BIF 1903,9 at the official rate according to the Central Bank this February 7.

According to foreign currency dealers, there is a low demand of foreign currency these days in Burundi

E.M, another foreign currency dealer says the little interest in foreign currency would be caused by the outbreak of coronavirus in China. “Most of our clients are importers of goods from China. As they temporarily suspended their trips, the demand of foreign currency is very low,” he says adding that he ignores when the issue will find a solution. He exhorts the government to facilitate importers get their goods from other cities like Dubai or Dar-es-Salaam.

On February 3, Li Changlin , Chinese Ambassador to Burundi advised Burundian students and business people who wish to travel to China to temporarily postpone their trips due to the outbreak of coronavirus in China.