Macroeconomic Forecast DRC

After a period of relative stability in April and May 2010, the Congolese franc was hit by a wave of downward pressure in early June, at one point selling off to CDF928/US$ (from CDF885/US$ previously). Data from the central bank shows that during the first week of June, demand for US dollars hit US$36.9mn - roughly US$11.0mn more than the bank was willing to sell. However, the resulting depreciation was only short-lived, with the franc having subsequently been stabilised at CDF885/US$. Our current end-year forecast for the exchange rate is CDF800/US$.

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