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DRC Central Bank Announces Restrictions on US Dollar Cash Transactions Starting April 2027
The central bank in the Democratic Republic of Congo has imposed new limits on cash transactions in US dollars to combat money laundering and bolster the local currency. The measures will take effect in April 2027, about one year from now. The policy aims to enhance confidence in the Congolese franc amid widespread use of the US dollar.
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The central bank in the Democratic Republic of Congo announced restrictions on cash transactions using US dollars, @business reported. The measures are set to take effect in April 2027. The policy seeks to address money laundering concerns and strengthen confidence in the Congolese franc.
The Congolese franc is the national currency of the Democratic Republic of Congo, @business reported. The restrictions aim to promote its use amid economic challenges, including past instability and inflation that have led to widespread reliance on the US dollar. The policy is scheduled to begin approximately one year from April 21, 2026.
The central bank's move follows similar efforts in other countries to enhance local currency usage and financial oversight, @business reported. Specific details on the restrictions, such as transaction limits or enforcement mechanisms, were not provided in the announcement.
