Congolese Franc


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Congolese Franc

The currency of the Democratic Republic of the Congo (not to be confused with the Republic of the Congo). It was introduced in 1997, replacing the new zaire when the country changed its name from Zaire. The currency in circulation consists exclusively of paper notes. No coins ever circulated, even though a few were designed and sold to collectors.
References in periodicals archive ?
With a budget of 80bn Congolese francs ($90m), also funded by the government itself, the programme, set to run during 2013 and 2014, should allow the government to equip 200 hospitals and woo health centres.
In Irumu, Ituri, in Province Orientale, women market sellers said they had to give wood and straw to the militia when arriving at the market, and that every household had to give 500 Congolese Francs ($0.
The Rwandan wholesalers use the profits in Congolese francs to buy dollars and, to close the trade circuit, to purchase diamonds.
Furthermore, the flow of money is regulated by the network through currency trading and the widespread introduction of counterfeit Congolese francs.
This group allegedly exchanges US dollars against Congolese francs to finance the purchase of precious minerals from Ugandan companies which hold a monopoly in Eastern Congo: "Numerous accounts from Kisangani residents lead us to believe that the Ugandans tried to establish a South African mining company, at Banalia in October 1998.