The economy of the Democratic Republic of Congo is experiencing a unique dynamic with the omnipresence of the American dollar in current transactions. Appearing in the 1990s, the dollar established itself as the main currency, relegating the Congolese franc to second place.
The excessive valuation of the dollar, to the point of refusing altered banknotes, testifies to the importance given to this currency. Congolese currency traders, without legal basis, have established this practice which exceeds the recommendations of the American authorities concerning damaged banknotes.
While some believe that this attitude stems from the intrinsic value of the dollar, others see it above all as an advantageous speculation for currency traders. Former President Noël Tshiani highlights the impact of the 2001 decree law signed by Joseph Kabila, formalizing the dollarization of the Congolese economy.
This situation raises questions about the management of foreign currencies and the financial health of the country. Indeed, despite the cohabitation of the dollar and the Congolese franc, the population seems to favor saving in dollars, demonstrating a distrust of the national currency which is gradually devaluing.
The dollarization of the Congolese economy thus poses challenges in terms of financial stability and monetary policy. It is essential that the authorities consider measures to promote confidence in the Congolese franc and ensure greater diversification of currencies used in the country.