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Foreign exchange market: The Congolese franc holds its own against the dollar

27/06/2022
Categories: Economy/Forex

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The Congolese franc remained stable on the banking market, at around 2004 FC to the US dollar, during the second half of June.

The Congolese franc appreciated slightly on the parallel market, fluctuating between 2000 FC and 2025 FC per U.S. dollar during the same period. The rate for the first two weeks of the same month ranged from 2020 to 2025 CFA francs per U.S. dollar.

Foreign exchange reserves stood at US$3.8 billion. Regarding the profile of growth in 2022, the Central Bank of Congo projects it at 6.1%, while in January they expected a threshold of 6.4%, under the dynamism of extractive industries. This situation can be explained by the global and regional slowdown.

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