ECONOMIC HIGHLIGHTS: during the 1990’s, the currency collapsed with hyperinflation - estimated inflation rate during 1994 was 3,048 percent, 333 percent for 1999. Other inflation figures include year 2003 at 14 percent, 2005 at 12.7 percent estimated and 2006 projected at 5.2 percent. Year 2004 GDP growth rate came in at 7.5 percent, both 2005 and 2006 are forecasted at 7 percent.
CURRENCY: ISO Symbol ‘CDF’, Congolese franc. At time of review on August 10, 2005, the franc had an exchange valuation of 494 CDF to the US-dollar (USD).
CURRENCY HISTORY: historical valuations include year 2004 at 401 CDF to the USD, 2003 at 405, 2002 at 346.5, 2001 at 206.6, 2000 at 21.82, January 2000 at 4.5, January 1999 at 2.5, June 1998 the Congolese franc replaced the new zaire as national currency at a conversion rate of 100,000 new zaires to one CDF, Janaury 1998 at 115,000 new zaires, October 1996 at 83,764, year 1995 at 7024 and 1994 at 1194.
CURRENCY FORECAST: political stability is the key for this African country’s future prosperity. Congo-DR is very rich in natural resources that yet has to be exploited for monetary benefit, some of these resources include cobalt, copper, gold, zinc, etc. At present, the world is currently experiencing a global commodities boom that may very well last for the next 10 to 20 years. Congo-DR may certainly benefit tremendously if it plays its card correctly. For a further detailed currency analysis, please consult BankINTRO.com.
