Stability in connection of the Congolese franc against the US dollar on the parallel market

In Interbank, the Congolese franc depreciated from 1,638 (one thousand six hundred and thirty-eight) CF the week of May 20 to 25 to 1,654 (one thousand six hundred and fifty-four) FC the week under review.


The Congolese News Agency (ACP) made this observation during a round that it carried out on the foreign exchange market through the city of Kinshasa.

According to the currency traders contacted by the ACP, the national currency, the Congolese franc remains stable despite the speculation of economic operators which believe that the macroeconomic situation in the DRC remains fragile.

This stability is due to the control, by the Central Bank of Congo (BCC), of the money supply on the foreign exchange market and of the discipline by the government to spend only that which is cashed by the public treasury.

It is necessary to remember that this rate remains relatively stable despite the start of the pay of agents and officials of the state which continues through the various banking institutions of the country.

Since the beginning of the week under review, the exchange rate trend of the Congolese franc against the US dollar has ranged from 1,662 (one thousand six hundred and sixty-two) CF to 1,663 (one thousand six hundred and sixty-three) CF.

In the vicinity of Gombe, the rate has also remained stable, the dollar fluctuating between 1,640 (one thousand six hundred and forty) FC and 1,650 (one thousand six hundred and fifty) FC. At the end of April 2019, the Central Bank of Congo (BCC) had pointed out that the national currency appreciated by 0.01% and 0.21% respectively on the interbank and parallel market compared to March 2019, placing the exchange rate at 1,639.0 (one thousand six hundred and thirty-nine) FC the US dollar and 1638.9 (one thousand six hundred and thirty-eight) FC. As at May 13, 2019 the indicative and parallel rates were respectively 1,639.92 (one thousand six hundred and thirty-nine) CF US dollars and 1,667.00 (one thousand six hundred and sixty-seven) CF,.

As a reminder, the BCC notes the stability of the exchange rate in the various market segments. It notes that as of 28 February 2019, the US dollar has traded at 1,637.01 (one thousand six hundred and thirty-seven) CF and 1,660.83 (one thousand six hundred and sixty) CF, respectively in interbank and parallel, ie a monthly appreciation of 0.06% and depreciation of 0.17%.

(CKS/Yes)