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Currency: The Congolese franc stable on the parallel and official exchange markets

14/07/2021
Categories: Economy/Forex

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Against the US dollar, the Congolese franc remains stable on the parallel and official exchange markets. However, the Congolese franc is experiencing a relative appreciation at the start of the week of July 12 to 18.

The exchange rate of the Congolese franc against the US dollar remained stable on the parallel and official exchange markets, trading at 2.025 (two thousand twenty-five) FC and 1.982 (one thousand nine hundred and eighty-two) respectively. CF. The Central Bank of Congo (BCC) indicates on its website that the Congolese currency is experiencing a relative appreciation at the start of the week. Its exchange rate has remained stable for more than six months on the market, thanks to the stability pact signed between the Central Bank of Congo and the government. Stability is also dictated by government measures aimed at eradicating practices that cause the evasion of tax revenues, in particular corruption and the embezzlement of public funds for personal needs, and above all by the rationalization of the collection of taxes, duties and certain state rights.

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