DR Congo Moves to Ban US Dollar to Boost Confidence in Local Currency | Firstpost Africa | N18G

The Democratic Republic of Congo is embarking on its most aggressive economic reform in decades, announcing a sweeping ban on all foreign currency cash transactions effective April 2027. This high-stakes de-dollarisation strategy aims to break a cycle of dependency born from the 1990s hyperinflation era, when the US dollar became the de facto national currency. With nearly 90% of deposits currently held in dollars, the Central Bank of DRC is forcing a shift toward the local franc by mandating that the use of all foreign currency should move behind digital screens. Beyond reclaiming monetary sovereignty, the move is a bid to exit the FATF grey list by increasing financial transparency and curbing money laundering.

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