Use swap currencies to make indian rupee the default currency. In the 19th century, the country had a thriving slavetrade business. While its poverty rate has fallen slightly over the past two decades, particularly in rural areas, the drc nonetheless remains one of the poorest countries in the world. The drc government now says it wants to phase out the dollar, to be replaced with local congolese francs in all financial transactions. Congolese franc 19992020 data 20212022 forecast quote. You probably need to change money when traveling to congo kinshasa. The local currency, the congolese franc cdf, is worthless outside of drc.
Check the usd midmarket exchange rate against your sending currency. Angola 201 km, cameroon 523 km, central african republic 467 km, democratic republic of the congo 2,410 km, gabon 1,903 km. Production in the allimportant mining sector dived last year, on external headwinds. The official exchange rate, set by the banque central du congo, was widely ignored as the value of the congolese franc plummeted against every world currency. Despite a wealth of fertile soil, hydroelectric power potential, and mineral resources, the democratic republic of the congo drc struggles with many socioeconomic problems, including high infant and maternal mortality rates, malnutrition, poor vaccination coverage, lack of access to improved water sources and sanitation, and frequent and early fertility. Currency exchange is a vital, yet frustrating, step for expatriating and travel. Enter the amount to convert at the top and choose a second currency. In 2015, net migration rate for democratic republic of the congo was 0. Dr congo still uses the congolese franc as its official currency.
Democratic republic of congo drc currency converter what is the unit of money in democratic republic of congo drc. The exchange rate of the congolese franc to the new zaire was 1 congolese franc for 100,000 new zaire. The currency used in brazzaville is the central african cfa franc. If you are traveling to brazzaville, you will need to exchange your currency for the congolese franc. In 2018, exchange rate for democratic republic of the congo was 1,622. Usd and congolese franc cdf online currency converter. Free online currency conversion based on exchange rates. Congo, democratic republic foreign exchange controls congo dr foreign exchange includes how foreign exchange is managed and implications for u. Exchange rate daily data the exchange rate is the price of one countrys currency expressed in us dollar. Congo, democratic republic currencymoney congo dr currency includes the local currency, other currencies commonly accepted and where, credit or debit cards accepted, access to atms that accept u. Democratic republic of congo income tax rate for 2017. Congolese frank was first introduced in 1887 for use in the congo free state 1885. The economy shifted into a lower gear in 2019, with gdp expanding 4.
Democratic republic of the congo economic indicators. Convert congolese francs cdf and united states dollars usd. Graph and download economic data for exchange rate to u. Below, youll find congolese franc rates and a currency converter.
This franc congolais and indian rupee convertor is up to date with exchange rates from may 11, 2020. Democratic republic of the congo exchange rate, 19602018. Currency converter indian rupee inr to congolese franc. Best ways to send money to the democratic republic of. While the usdxaf spot exchange rate is quoted and exchanged in the same day, the usdxaf forward rate is quoted today but for delivery and payment on a specific future date. Provided that political and security stability is guaranteed for at least a decade, drc could become one of the richest and highperformance. Find out how to make a money transfer to the democratic republic of congo at the most competitive cost in 4 easy steps.
Using this currency converter, you can find the latest exchange rate for the congolese franc and a calculator to convert from francs congo to dollars. Although the central bank issued congolese franc coins, they are no longer in use because inflation has rendered them valueless. The congo has 70% of the worlds coltan, a third of its cobalt, more than 30% of its diamond reserves, and a tenth of its copper. The democratic republic of the congo is named after the congo river, which flows throughout the country. Democratic republic of the congo net migration rate, 1950. In 1916, the congolese franc also circulated in the countries of burundi and rwanda. Climate democratic republic of the congo temperature. The democratic republic of the congo is a central african nation, and is also referred to as dr congo. Best ways to send money to the democratic republic of congo. The usdcdf spot exchange rate specifies how much one currency, the usd, is currently worth in. Our currency rankings show that the most popular congo kinshasa franc exchange rate is the usd to cdf rate.
Use the currency converter below to calculate the current exchange rate for the city of brazzaville. There are no congolese franc coins for circulating use. Dollar for democratic republic of the congo fxratecda618nupn from 1950 to 2010 about dr congo, exchange rate, currency, rate, and usa. The average value for democratic republic of the congo during that period was 943. This page provides the latest reported value for republic of the congo interest rate plus previous releases. Exchange rate of democratic republic of the congo increased from 0 lcu per us dollars in 1969 to 1,622. In 1967, congo declared independence and the franc was replaced with the zaire at 1,000 francs 1 zaire. Differences between the rate of inflation and currency depreciation over or undershooting of the exchange rate are seen as a proxy for changes in the relative demand for domestic and foreign currency. For that indicator, we provide data for democratic republic of the congo. Franc congolais cdf and indian rupee inr currency exchange rate conversion calculator.
A simple model is calibrated for the democratic republic of the congo in the 1990s and is used to derive estimates of the rate of dollarization. All figures are live midmarket rates, which are not available to consumers and are for informational purposes only. Democratic republic of congo drc currency converter gmt. Atm networks and which networks are readily accessible, and acceptability of travelers checks. The usdxaf spot exchange rate specifies how much one currency is currently worth in terms of the other. Democratic republic of congo income tax rate for 2017, 2016, 2015, 2014, 20 congo personal income tax rate 2014 residents. Democratic republic of the congo visitor information.
Democratic republic of the congolese franc currency. Aug 07, 2017 the democratic republic of the congo is a central african nation, and is also referred to as dr congo. Cdf just under one us dollar is currently the biggest bill commonly available though cdf5000 notes do exist, resulting in a big bundles of banknotes when you change money. Every time you need to change currency it can feel like you are losing precious money. Cdf, is the currency of democratic republic of the congo. The republic of the congo, also known as congobrazzaville locally as braza, and congo but not to be confused with the democratic republic of the congo, formerly zaire, which was also at one time known as the republic of the congo, is a former french colony of westcentral africa. Democratic republic of the congo is on the tier 2 watch list for its failure to provide evidence of increasing efforts to combat trafficking in persons in 2007. Democratic republic of the congo drc is the largest francophone country in africa, with 90 million inhabitants, 80 million hectares of arable land and rich reserves of natural and mining resources. Democratic republic of the congo exchange regulations, dated february, 2003. Democratic republic of the congo exchange rate, usd, april. In 1997, the franc was reintroduced and the zaire was eliminated. The congolese franc and democratic republic of the congo the congolese franc iso code. Arab slave traders offered clothes, jewelry, beads, and cowrie shells to slave owners in exchange for slaves. Tier 2 watch list republic of the congo is on the tier 2 watch list for its failure to show evidence of increasing efforts to combat trafficking in persons in 2007.
Online calculator to convert money from united states dollar usd to congolese franc cdf using up to date exchange rates. Congolese franc is a currency of congo, the democratic republic of the. General presentation of the democratic republic of congo based on indicators such as demography, area, language, religion, ethnic composition, type of economy and congolese political context. Money and costs in democratic republic of congo lonely. Democratic republic of congo kinshasa keyfigures landarea,thousandsofkm. Congo, democratic republic of the money, information about. Also available are congokinshasa franc services like cheap money transfers, a cdf currency. You probably need to change money when traveling to congokinshasa. Killing the dollar softly in the democratic republic of congo. Graph and download revisions to economic data for from 1950 to 2010 about dr congo, exchange rate, currency, rate, and usa. The congolese franc replaced the new zaire and was issued in 1997 for the first time.
You might want to consider not to bring to much money. The congolese franc also circulated in the countries of burundi and rwanda in 1916. The congolese franc is the currency of the democratic republic of the congo. The official currency of the democratic republic of congo is the congolese franc cdf. Though democratic republic of the congo net migration rate fluctuated substantially in recent years, it tended to decrease through 1970 2015 period ending at 0. A credit card usualy is the easiest way to pay abroad. Republic of the congo currency the usdxaf spot exchange rate specifies how much one currency is currently worth in terms of the other. Kinshasa the democratic republic of congo is one of several countries, both in africa and elsewhere in the developing world, that uses the u. Democratic republic of the congo currency exchange rates. Congolese franc the congolese franc cdf is the currency of democratic republic of congo. Convert congolese francs cdf and united states dollars. Democratic republic of the congo currency exchange rate, travellers cheques, credit cards and democratic republic of the congo travel guide. Republic of the congo currency 19952020 data 20212022. Dr congo economy gdp, inflation, cpi and interest rate.
The benchmark interest rate in republic of the congo was last recorded at 3. No fees charges may occasionally be applied by a third party. Currency code cdf is associated to congokinshasa drc, flag is used on this site for it. The democratic republic of congo has a vast amount of mineral and other natural resources. The franc congolais is the currency in congo cd, cod. Overshooting and dollarization in the democratic republic of. Enter the amount to be converted in the box to the left of franc congolais. Democratic republic of the congo is in the continental part africa and the capital is kinshasa. Todays exchange rate credit cards have a very limited use as do traveller cheques. The currency code is cdf and currency symbol is fc, or fr. The description is composed by our digital data assistant. Annual cobalt output plunged, while oil production contracted for the better part of the year. Most popular currency exchange rate conversion pairs.
The local currency in the congo is the congolese franc. Congo kinshasa francs, cdf is the national currency in democratic republic of congo drc. With a surface area equivalent to that of western europe, the democratic republic of congo drc is the largest country in subsaharan africa. The usdcdf spot exchange rate specifies how much one currency, the usd, is currently worth in terms of the other, the cdf. Congo, democratic republic currency moneycongo dr currency includes the local currency, other currencies commonly accepted and where, credit or debit cards accepted, access to atms that accept u. Congo, democratic republic currency money congo dr currency includes the local currency, other currencies commonly accepted and where, credit or debit cards accepted, access to atms that accept u. Congokinshasa francs, cdf is the national currency in democratic republic of congo drc. You may be able to exchange your money at the brazzaville airport, but exchange rates may not be the best. Country information the republic of congo exchange rate. Overshooting and dollarization in the democratic republic. Here we report the direct quotation also known as the price quotation system which defines the amount of domestic currency needed to exchange one unit of foreign currency. The democratic republic of the congo is a source, destination, and possibly a transit country for men, women, and children subjected to forced labor and sex trafficking. Money and costs in democratic republic of congo lonely planet.
Currency converter the converter shows the conversion of 1 us dollar to congolese franc as of tuesday, 12 may 2020. The congo river is the worlds deepest river and the worlds second largest river by discharge. Our currency rankings show that the most popular congokinshasa franc exchange rate is the usd to cdf rate. The number of immigrants minus the number of emigrants over a period, divided. Democratic republic of the congo dollar exchange rate data, chart. Later in 1960, burundi and rwanda issued their own.
The democratic republic of congo is widely considered one of the worlds richest countries in natural resources. Brazzaville is the capital of the republic of congo. Congo, democratic republic currencymoney privacy shield. Foreign currency exchange democratic republic of congo. Congo, democratic republic currencymoneycongo dr currency includes the local currency, other currencies commonly accepted and where, credit or debit cards accepted, access to atms that accept u. Dollar usd to congolese franc cdf currency converter.
Republic of the congo interest rate 20092020 data 2021. If youre living or working in democratic republic of congo, foreign exchange and money transfer is a key part in making to most out of your money. Dollar for democratic republic of the congo fxratecda618nupn from 1950 to 2010 about dr. The congolese franc is the currency of congo kinshasa. Exchange rate, usd in democratic republic of the congo, april, 2020. Democratic republic of the congo mfw4a making finance. How to send money to the democratic republic of congo. Congolese franc is the official currency of the democratic republic of the congo.
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