1 RMB (Chinese Yuan Renminbi - CNY) is approximately equal to 246.6775 BIF (Burundi Franc). It is the official currency of Burundi denoted by the symbol Fbu. It is subdivided into 100 centimes. Until 1960, Belguim Franc was the currency of Burundi, as Burundi was a colony of Belgium. In 1960, the Belgian Congo Franc was replaced with the Burundi and Rwanda Franc. Discussions are on to replace the Burundi Franc (BIF) in 2015 with the East African Shilling.