Currency
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Congo Franc Soars as Copper Boom Lifts Economy
The Democratic Republic of Congo’s franc has surged to become Africa’s best-performing currency this year, buoyed by rising foreign-currency reserves, tight monetary policy, and a global copper rally that continues to reshape the country’s economic outlook. A jump in the DRC’s foreign-currency holdings and recent policy adjustments by the central bank have powered an almost…
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CBK Lowers CBR Citing Currency Stability, Slowed Economic Growth
The Central Bank of Kenya (CBK) has lowered the Central Bank Rate (CBR) by 0.25 percentage points to 9.75 percent, citing sustained decline in inflation, a stable exchange rate, and a slowdown in economic growth both globally and locally. In a statement released following its Monetary Policy Committee (MPC) meeting held today, the CBK said…
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