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Franc devalued

    NAIROBI

    The Congolese franc was devalued by 100 percent in relation to the US dollar over the weekend, the PANA news agency reported. The Central Bank put the new exchange rate at 9 francs to one dollar, compared to 4.5 the week before. A statement from the Bank said the move was taken to reduce the gap between the official and parallel market rates.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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