Slight depreciation of the Congolese franc indicative

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Kinshasa, April 5th, 2021 (CPA).– The Congolese franc (FC) experienced a slight depreciation in the indicative (interbank market) during the week of March 29th to April 4th, 2021, changing to 1.998 (one thousand nine one hundred and ninety-eight) FC the US dollar, against 1.984 (one thousand nine hundred and eighty-four), FC the week of March 22nd to 28th, 2021 and CDF 1.980 (one thousand nine hundred and eighty), the week from March 15th to 21st of the same year, the mercurial of the Central Bank of Congo (BCC) said on its website on Saturday. In the parallel market, according to the same source, it was observed, on the other hand, a stability of the national currency against the US dollar. The exchange rate was CDF 2,000 (two thousand)  during the same period for the sale of the US dollar and CDF 2.025 (two thousand and twenty-five) for the purchase of the US dollar. Although showing a slight decline in its value on the foreign exchange market, the CDF remains relatively stable given the health crisis that has weakened all the economies of the world.

According to the outgoing government, through the Economic Conjuncture Committee, this stability is the result of the « Monetary Stability Pact » that it signed with the BCC in the last quarter of fiscal year 2020.

For the goods and services market, the same Committee notes stability in the formation of domestic prices. As for the weekly inflation rate over the same period, it stood at 0.10% while the macroeconomic framework also remains stable. Slight drop in commodity prices on the international market In addition, the prices of raw materials, which had rebounded on the international market during the week of March 15 to 21 of the current year, show during the week under review, a slight drop in prices for reasons not yet elucidated internally. Prices for commodities such as copper, cobalt, Zinc, tin, ounce of gold and silver saw declines trading at USD 8.968 (eight thousand nine hundred and sixty- eight) against USD 9,053.2 (nine thousand and fifty-three, two hundred)  for copper; cobalt at USD 52,470 (fifty-two thousand four hundred and seventy)  against USD 52,760 (fifty-two thousand seven hundred and sixty) per ton; tin at USD 27,559.40 (twenty-seven thousand five hundred and fifty-nine, forty cents) against 2,782 (two thousand seven hundred and eighty-two) USD while Zinc and the ounce of gold have increased slightly on the same exchange market, trading respectively at USD 2,816 (two thousand eight hundred and sixteen) against USD 2,802 (two thousand eight hundred and two) and the ounce of gold at USD 1,732.74 (one thousand seven one hundred and thirty-two, seventy-four cents) against 1,728.55 (one thousand seven hundred and twenty-eight, fifty-five cents). The situation of 2021 compared to that of 2017 and 2018, the prices of raw materials, which were down, return to the approximate levels of the second half of 2017 when the price of a ton of copper was more than USD 9,000 (nine thousand) per ton, cobalt at USD 100,000 (one hundred thousand) per ton.

The situation in 2017, indicates the Economic Conjuncture Committee, was the result of innovation in the manufacture of electric batteries for vehicles, it is recalled. ACP/