Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Rwanda
RWAFCAODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,082,771.00
Year-over-Year Change
354.42%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of deposit accounts at commercial banks in Rwanda, providing insights into the use of financial services in the country.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Rwanda series tracks the total number of deposit accounts held at commercial banks in Rwanda. This metric serves as an indicator of financial inclusion and the overall development of the country's banking sector.
Methodology
The data is collected and reported by the National Bank of Rwanda.
Historical Context
This trend is useful for policymakers and analysts examining the growth and accessibility of financial services in the Rwandan economy.
Key Facts
- Rwanda had over 3.2 million deposit accounts at commercial banks as of 2020.
- The number of deposit accounts has grown by over 60% since 2015.
- Financial inclusion is a key priority for the Rwandan government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held at commercial banks in Rwanda, providing insights into financial inclusion and banking sector development.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the growth and accessibility of financial services in the Rwandan economy, which is a key factor in economic development.
Q: How is this data collected or calculated?
A: The data is collected and reported by the National Bank of Rwanda.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess progress on financial inclusion and monitor the development of Rwanda's banking sector.
Q: Are there update delays or limitations?
A: The data is published regularly by the National Bank of Rwanda, but there may be some delays in reporting.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Rwanda (RWAFCAODCNUM), retrieved from FRED.