The Congolese Central Bank (CCB) has initiated a cur rency sales transaction to enable the local currency, the Congolese franc, to re g ain its value, the bank said Wednesday in a statement made available to PANA her e .
This project will enable banks interested in the offer to buy currencies at a co nvenient rate.
The sales will takes place whenever the Congolese franc loses 1.5% of its value, the financial institution stated.
The CCB has nearly US$ 200 million provided by the International Monetary Fund ( IMF) whereas statistics indicate that the national currency has been losing 22% o f its value since early 2009, a situation which caused increases in prices of go o ds.
According to a CCB expert, the people lost 20% of their buying power in four mon ths due to the decline in receipts.
The rehabilitation of exports, mainly agriculture, which is essential to the eco nomic development, is recommended to find a sustainable solution and stabilize t h e Congolese franc, the expert stressed.
