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Image: maxime niyomwungeri on Unsplash
Standard and Poor, more recognizable as S&P, assigns credit risk to companies and countries. This data and math are used by financial institutions and retail traders throughout the world.
Rwanda, a beautiful country with some of the friendliest people in the world, is experiencing a shrinking GDP presently at -4.20% and 10.30% inflation. S&P assigned a B+ credit rating and a negative outlook to the small African nation of 8 million people. This makes borrowing money more expensive.
USD/RWF will open at 935.360 today.