The foreign exchange market in the Democratic Republic of Congo maintains its stability, according to the latest economic report from the Central Bank of Congo. On the two segments of the foreign exchange market, the indicative and parallel exchange rates remained at 2,416.57 and 2,425.00 Congolese francs per US dollar, which represents an improvement compared to the depreciation recorded previously.
This stability is the result of actions taken by the Central Bank of Congo, which notably intervened on the foreign exchange market to improve the supply of foreign currencies in the economy. In addition, the Central Bank has widened the bond tender ranges to tap into excess liquidity, helping to maintain monetary stability in the country.
Moreover, the economic report reports a slight rise in inflation. On August 4, inflation rose to 0.16%, against 0.15% the previous week. On an annual basis, inflation reaches 16.66%.
This slight acceleration in inflation is mainly due to the increase in the index of food products and non-alcoholic beverages. However, other items such as miscellaneous goods and services, housing, water, electricity, gas and fuel, and transportation also contributed to this increase.
In short, the stability of the foreign exchange market and the slight rise in inflation in the Democratic Republic of Congo testify to the measures taken by the Central Bank to maintain the monetary stability of the country. These elements are essential to foster an environment conducive to economic exchanges and the country’s growth