The Central Bank of Congo issued a public notice warning some foreign exchange bureaus and registered individual manual money changers over practices observed amid the Congolese franc’s continued appreciation, including disparate rates, widened buy-sell spreads, and speculative quotes disconnected from the Bank’s indicative and interbank rates. It reminded market participants that these behaviours breach Administrative Instruction No. 007 (amendment No. 3) of 2023 governing manual foreign exchange activity in the Democratic Republic of the Congo. The Bank highlighted that the instruction prohibits, among other things, displaying exchange rates outside business premises in public places, and called on manual money changers to comply and avoid manipulation or speculation that disrupts the foreign exchange market. Following an awareness campaign conducted in May 2024, supervisory services will further deploy to conduct on-site controls, with potential disciplinary sanctions up to withdrawal of authorisation where necessary. The notice also urged the public to conduct foreign currency purchases and sales only through commercial banks and authorised exchange bureaus, with the list of licensed bureaus available on the Central Bank of Congo’s website.
Central Bank of Congo 2025-10-13
Central Bank of Congo warns manual money changers on speculative FX rates and steps up on-site inspections with possible licence withdrawals
The Central Bank of Congo warned foreign exchange bureaus and money changers against disparate rates and speculative quotes amid the franc's appreciation, breaching Administrative Instruction No. 007 (amendment No. 3) of 2023. The Bank emphasized compliance with regulations prohibiting public display of exchange rates outside business premises and warned of potential sanctions, including withdrawal of authorization. The public is advised to conduct foreign currency transactions through commercial banks and authorized bureaus.