The article focuses on the slight appreciation of the Congolese franc against foreign currencies, in particular the US dollar. The Deputy Prime Minister, Minister of National Economy, Vital Kamerhe, pointed out during a meeting of the Council of Ministers on August 11 the gap between the stability of the currency and the rise in prices in the markets.
According to Patrick Muyaya, government spokesman, Vital Kamerhe insisted on the application of the interbank rate to allow a substantial drop in prices. It is indeed paradoxical to note that despite the drop in the exchange rate and the relative stability of the national currency, market prices do not follow this downward trend.
This concern comes on top of the efforts already undertaken by the Central Bank of Congo to stabilize the currency. Vital Kamerhe affirmed that additional measures have been taken to fight against currency speculation and achieve the dedollarization of the economy.
However, despite this slight appreciation of the Congolese franc on the parallel market, the exchange rate remains high, oscillating between 2,400 and 2,430 Congolese francs for one US dollar. This situation does not benefit the purchasing power of the population, despite the eight measures taken recently to fight against the depreciation of the currency.
It is therefore crucial that concrete actions be taken to reverse this trend and allow a real improvement in the purchasing power of the Congolese. The implementation of the interbank rate and the strengthening of the strategies of the Central Bank of Congo to fight against speculation are measures that could contribute to achieving this objective.
In conclusion, the slight appreciation of the Congolese franc against foreign currencies is a major concern for the Congolese government. The stability of the currency must be accompanied by a drop in market prices to improve the purchasing power of the population