Congolese franc: Tshisekedi calls for speculation to be curbed despite currency appreciation

On Friday 3 October, President Félix Tshisekedi praised the joint efforts of the Government and the Central Bank of Congo (BCC), which have led to a 9.1% appreciation of the Congolese franc against the dollar since 19 September. However, he urged the executive to maintain strict budgetary discipline and take vigorous measures against speculative practices that weaken the market, particularly due to the rate disparities observed in Kinshasa.

According to the minutes of the Council of Ministers presented by Patrick Muyaya, this monetary improvement is the result of bank reserves, tax levies and targeted interventions by the BCC. Tshisekedi insisted on the need for a more innovative and coherent approach to sustainably strengthen the credibility and stability of the Congolese franc.