According
to a poll organized by the Central Bank of Congo among business leaders, the business
confidence in the economy (Measured by the difference between the
proportion of those with a positive opinion and those with a negative
one) has grown from to +23,6% in May from+ 4.6% in April. This is a
substantial increase month-on-month and seems to demonstrate a higher
confidence in the authorities’ abilities to maintain a certain macroeconomic
stability.
1 comment:
Last Friday, for the first time after five months, the pair USD/CDF stayed at 914,3790 against 923,1853 a week ago. We notice a slight decrease of 0.95%. Strangely, Wall Street went up to 930-935 since last Thursday while Bank market stays at 915-935.
As a market regulator, the Central Bank (CB) is officially the only institution allowed to publish the DRC’s rates (FCY against CDF). Rates published reflect the market (bank market and wall street). Mathematically, the market average.
Considering the last trend of the market, nothing can explain this decrease. But we noticed that last Thursday commercial banks sold USD to Central Bank in order to face tax payment of clients due to month half. Thus, the LCY shortage has been confirmed.
Millezim, Ali Nasser
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