Title: The latest trends in the foreign exchange and goods and services market
Introduction :
During the last meeting of the council of ministers, the governor of the Central Bank of Congo (BCC), Malangu Kabedi, presented a report on recent developments in the foreign exchange and goods and services market. In this article, we invite you to discover the latest trends and analysis of this economic situation.
The international market:
At the international level, the governor stressed that the prices of export products from the Democratic Republic of Congo remained favorable. For example, the price of copper recorded a monthly decline of 0.82%, reaching USD 8,405.10 per tonne at the end of August 2023. In contrast, the price of cobalt saw an increase of 1.13%, establishing at USD 32,979.10 per tonne. These variations in the prices of export products will have an impact on the Congolese economy and will require an adaptation of financial and monetary policies.
The national market:
At the national level, the inflation trend is downward. The weekly inflation rate increased from 0.19% to 0.18% on September 1. In addition, monthly inflation increased from 5.75% in July to 0.86% at the end of August 2023. This reflects the good coordination of actions at the economic policy level. Year-to-date, the inflation rate stood at 17.48% as of September 1, 2023. The indicative and parallel exchange rates have also evolved, with a weekly depreciation of the national currency and a monetary appreciation against the dollar. American.
Recommendations:
Faced with this economic situation, the governor recommended the maintenance of stabilization measures, in particular the close monitoring of banking liquidity factors by the BCC, the acceleration of investments in public infrastructure and the diversification of the national economy. These recommendations aim to ensure financial and economic stability in the country, and to promote long-term growth and development.
Conclusion :
The latest trends in the foreign exchange and goods and services market in the Democratic Republic of Congo are encouraging, with favorable prices for export products and a decline in national inflation. However, it is essential to maintain stabilization measures and continue economic diversification efforts to ensure sustainable growth. Vigilance and coordination of economic policies remain key elements to guarantee the financial stability and development of the country.