Kinshasa, May 3rd, 2021 (CPA).– The Congolese franc (FC) appreciated on the official foreign exchange market, during the week of April 26th to May 1st, 2021, compared to the previous week from April 19th to 24th, trading at FC 1,992.30 for USD 1, indicates the mercurial of the Central Bank of Congo (BCC), received on Saturday at CPA.
According to the source, the national currency rate also appreciated on the parallel foreign exchange market, trading at FC 1,950 the US dollar at the start of the week that has just ended, before revert to its old rate for the week from April 18th to 24th which was FC 2,000 US dollar.
According to the government, the economic situation in the Democratic Republic of Congo (DRC) is improving, despite the adverse effects linked to the Covid-19 pandemic, thanks to the economic recovery caused by the export of raw materials in particular, copper and cobalt on the international market.
During the meeting of the monetary policy committee (CPM) on April 16th, the governor of BCC, Deogratias Mutombo, indicated that the macroeconomic situation in DRC remains marked by the pursuit of the stability of the national currency on the exchange market and that of goods and services, specifying that since the beginning of the current year 2021, the Congolese franc has depreciated slightly by 0.5% and 0.2% respectively at the indicator and at the parallel against a background of stabilization efforts initiated by the issuing body. In addition, foreign exchange reserves stood at USD 505.71 million, corresponding to 2 weeks of imports of goods and services.
Regarding the monetary sector, CPM indicated that the balance sheet of BCC indicates a monthly increase in the monetary base of CF 289.7 billion, standing at 4,079.5 billion. This expansion is explained mainly by the increase in net domestic assets of CF 617.4 billion. The overall BCC bond outstanding also increased by CF 2.5 billion. The free assets of banks remain, on the other hand, negative at FC 288.9 billion CF against 531.6 billion in February 2021. ACP