Congolese Franc News

Summary of Last Week

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Statistical Measures

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recent dataset analysis revealed that exchange rates of the Congolese Franc (CDF) have maintained remarkable stability for the better part of March 2024, offering users of the currency a sense of financial reliability. However, towards the end of the month, a slight but noticeable drop was observed, signaling a potential shift in the CDF''s stability streak. The dataset, featuring time-series data from multiple points in a day, indicates the CDF exchange rate almost unchanged at 0.00049 from 8th to 20th March 2024. Notwithstanding, the trend shows a subtle decrease to 0.00048 on 20th March, which held steady through the 29th of the same month. Following this, the CDF witnessed its first minor decline to 0.00047 on 1st April 2024. These fluctuations, though seemingly insignificant when viewed in isolation, might have profound implications when aggregated over an extended period. For businesses, investors, and even ordinary citizens who rely on the CDF for transactions, understanding these trends is of utmost importance. Despite the CDF''s consistent performance in the first half of March, the end of the month indicates a potential precursor to a broader downward trend. One might wonder why the slight dip in CDF rates is significant. For starters, despite being a fraction of a unit, the forex sector functions on the principle of large numbers. Even a minuscule change in exchange rates can have a tangible impact on financial operations on a larger scale. This dip symbolizes a potential increase in economic risk and a decrease in return on investments done in CDF, which in turn can lead to lower economic activity. Currently, it is imprudent to determine the long-term effect of these fluctuations based solely on this month-long dataset. However, traders and economic experts are keeping a vigilant eye on how these trends develop. Will CDF regain its stability, or is it on the precipice of a broader downturn? Only time will reveal. Economists have warned that markets should brace themselves for potential impacts. If the downward trend continues, the economy might witness a decrease in foreign investments and trades. Additionally, businesses whose operations hinge on the stability of the CDF may need to consider hedging their exchange rate risks or look towards alternative strategies. As we move deeper into April 2024, all eyes are on how the CDF will behave. Will it bounce back to its earlier stability, or will we perceive a continuation of the decline? As traders, investors, and economists keep track of these crucial figures, what ensues in the CDF markets will certainly be a fascinating watch.Steady CDF Exchange Rates Show a Hint of Decline

Current Middle Market Exchange Rate

For information purposes only.