Daily News  :: Central Africa

DRC promises currency stability

Published: 09-NOV-06

Kinshasa – The Democratic of the Congo (DRC) would from the middle of November have a new value, said the country’s finance minister.

Marco Banguli said: "The exchange rate will be 525 Congolese francs to one greenback starting in mid-November 2006."

At the same time the minister gave assurances that the franc’s depreciation run would cease. The Central African currency had fallen from 430 francs last October to 530 francs to the US dollar at present.

Banguli did not indicate how the currency would be pegged to 525 francs to the dollar. It was likely that the minister was simply indicating that price stability would return to the DRC to deal with the inflationary pressures the devaluation had put on the economy. -Business in Africa Online

Print this page Send this article to a friend

Market news on your cellphone
Get live JSE listed shares, warrants, major indices, brent crude oil, international markets, agricultural futures & daily market analysis via SMS on your mobile.
Find out more...

Energy in Africa
Energy in Africa is an intelligent and in-depth look at how energy impacts people, places, projects, price and development around the African continent.
Subscribe now...

African Business Leaders Forum
African business and public sector leaders define and construct a prosperous future for the continent.
Find out more...

Online travel bookings
Planning to travel? Book accommodation in Africa & South Africa here.
Book now...

Contact us | Advertising | Subscriptions | Newsletter | About us | Employee Email

All material copyright Business in Africa. All rights reserved. Material may not be published or reproduced in any form without prior written permission. Read these terms & conditions. Read our privacy statement and security statement. Powered by Mail & Guardian Online & iafrica.com. The domains businessinafrica.net, energyinafrica.net are owned by Business in Africa.