Use of Financial Services, Mobile Banking: Value of Mobile Money Transactions (during the Reference Year) for Rwanda
RWAFCMTVXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20,776,838,000,000.00
Year-over-Year Change
261079.61%
Date Range
1/1/2011 - 1/1/2023
Summary
This economic trend measures the value of mobile money transactions in Rwanda during a given reference year. It provides insight into the adoption and use of digital financial services in a developing market.
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, Mobile Banking: Value of Mobile Money Transactions (during the Reference Year) for Rwanda metric tracks the total monetary value of mobile-based financial transactions, such as payments, transfers, and deposits, within the Rwandan economy. This data point is used by economists and policymakers to assess the growth of digital financial inclusion and the role of mobile technology in expanding access to banking services.
Methodology
The data is collected by Rwanda's central bank through reports from licensed mobile money providers.
Historical Context
This trend is closely monitored by institutions studying financial development and the shift towards digital payments in emerging markets.
Key Facts
- Rwanda has one of the highest mobile money account ownership rates in the world.
- Mobile money has become a critical financial service for the unbanked in Rwanda.
- Digital payments account for over 60% of all financial transactions in Rwanda.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of mobile money transactions, such as payments, transfers, and deposits, within the Rwandan economy during a given reference year.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the growth of digital financial inclusion and the role of mobile technology in expanding access to banking services in a developing market.
Q: How is this data collected or calculated?
A: The data is collected by Rwanda's central bank through reports from licensed mobile money providers.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by institutions studying financial development and the shift towards digital payments in emerging markets.
Q: Are there update delays or limitations?
A: The data may be subject to periodic updates and revisions by the reporting authorities.
Related Trends
Geographical Outreach: Number of Institutions, Other Depository Corporations, Deposit Taking Microfinance Institutions (MFIs) for Rwanda
RWAFCIODMFNUM
Bank Regulatory Capital to Risk-Weighted Assets for Rwanda
DDSI05RWA156NWDB
Percentage of Foreign Bank Assets Among Total Bank Assets for Rwanda
DDOI14RWA156NWDB
Real Gross Domestic Product for Rwanda
RWANGDPRPCPPPT
Consolidated Foreign Claims of BIS-Reporting Banks to GDP for Rwanda
DDOI12RWA156NWDB
Use of Financial Services: Number of Depositors at Deposit Taking Microfinance Institutions (MFIs) for Rwanda
RWAFCDODMFPENUM
Citation
U.S. Federal Reserve, Use of Financial Services, Mobile Banking: Value of Mobile Money Transactions (during the Reference Year) for Rwanda (RWAFCMTVXDC), retrieved from FRED.