Fatshimetrie
In October 2024, the Congolese economy experienced significant fluctuations in the parity between the Congolese Franc and the US dollar. Data recently published by the Central Bank of Congo reveal a contrasting situation between the official market and the parallel market.
According to the figures provided, as of October 11, 2024, the exchange rate on the official market stood at 2,812.83 CDF per US dollar, recording an appreciation of 1.38% compared to the previous week. This positive development on the indicative market reflects a certain economic stability despite the challenges faced by the country.
However, a different reality is emerging on the parallel market where the Congolese Franc experienced a depreciation of 0.22%, reaching a rate of 2,873.13 CDF. This disparity between the two markets highlights the persistent tensions in the Congolese economy, emphasizing the importance of rigorous management of financial resources.
Financial analysts point to the strong demand for dollars for imports and international payments as the main factor in this depreciation on the parallel market. This situation highlights the challenges facing the Congolese government to ensure the country’s economic stability.
In terms of annual evolution, the Congolese Franc recorded a depreciation of 4.74% on the official market and 6.49% on the parallel market. These figures underline the urgency of adopting effective economic measures to counter this downward trend and protect the national currency.
The Central Bank of Congo recently published an economic outlook note highlighting the importance of managing international reserves, valued at USD 6,264.59 million. These reserves are an essential asset to deal with economic shocks and maintain the country’s monetary stability.
Faced with these challenges, economic experts recommend better coordination of monetary and budgetary policies, as well as diversification of the Congolese economy to reduce dependence on foreign currencies. Proactive management of the State’s treasury and structural reforms are also necessary to stimulate the country’s economic growth.
The repercussions of these currency fluctuations are felt at the level of consumers and businesses, with the risk of an increase in the prices of imported goods and higher inflation. These economic challenges highlight the need for rapid and concerted action to preserve the country’s financial stability.
In this context, the promise of the Central Bank of Congo to intervene in the foreign exchange market to stabilize the Congolese Franc is a positive signal. However, the effectiveness of these measures remains to be assessed in a context marked by economic and political uncertainty.
In conclusion, despite signs of appreciation of the Congolese Franc on the official market, economic challenges remain significant. Prudent management of international reserves, coherent economic policies and structural reforms are essential to navigate through this period of financial volatility and ensure sustainable economic growth in the Democratic Republic of Congo.