Economy, Currency and Banking

The unit of currency in the DRC is the Congolese franc, consisting of 100 centimes (617.66 Congolese francs equal US$1; April, 1999). The Congolese franc was issued in mid-1998, replacing the new zaire. The government controls the currency’s rate of exchange. The Bank of the Democratic Republic of the Congo (1964) is the national bank. A number of domestic banks and branches of foreign banks also function.