Bank Exchange Rates for Congolese Franc
Bank Exchange Rates for Congo - CDF - Congolese Franc - FC. The foreign exchange rates for Congo also known as the ISO code CDF or the Congolese Franc currency and as a symbol FC. Send Money Transfer to Congo.
Bank Exchange Rates for Congo
Congolese franc coins have been issued, but are no longer sued, due to inflation, with the smallest note in regular circulation being the 50franc note. Although denominational banknotes are available in 1, 5, 10, 20 and 50 centimes, and 10, 20, 50, 100, 200, 500, 1,000, 5,000, 10,000 and 20, 000 francs.
The Franc is a currency used in various countries, the Democratic Republic of the Congo being one of them. In Congo, currency is divided into units of 100 centimes and has been in circulation since 1887 during the colonial rule of the Belgians. Many changes to the currency have been made and it is in its second generation, which began in 1997. To gain a deeper understanding of this currency and how it has evolved, here is a historical preview from its introduction to date.
Currency Rate for Congo
First generation (1887 â€“ 1967)
The first Congolese franc was introduced by the Belgian colonial government, which ruled the country then, and it was denominated in centimes as well as francs. The franc used then was of the same value to the Belgian franc and beginning 1916, the Congolese franc made its entry into Rwanda and Burundi. From 1952, the currency was made bearing names Belgian Congo. But in 1960, Rwanda and Burundi decided to adopt their own franc. Until 1967, Congo used the Belgian Congo as the official currency.
Currency Rates for Congolese Franc
In 1887, the Belgian colonial government introduced the first franc coins that came in the denominations of 1, 2, 5 and 10 centimes.
Additionally, there were silver coins each worth 50 centimes, but the coins would cease to be minted in silver from 1896. Coinage of the currency was halted in 1929 and was revived in 1936 with the introduction of nickels-bronze 5-franc coins. More changes were made and in 1943, the colonial government introduced 2-franc coins made from brass. In 1952, the brass 5-franc coins came into the scene and they carried the name Ruanda-Urundiâ.
The second generation of the development of the Congolese franc began in 1997, and this was to replace the previously accepted currency. The new era also came with new coins, but due to high inflation rates, the coins were phased out and the smallest notes in circulation are the 10 francs. In 2010, the Central Bank of Congo released 20 million 500 franc notes while the country commemorated its 50th anniversary of independence.
GBP to CDF
The first franc to be used in the Congo was during the Belgian colonial rule when the franc was equal to the Belgian franc in value. This currency was also used in Rwanda and Burundi until they adopted their own currency in 1960, and in Katanga, who issued their own currency, the Katanga franc, between 1960 and 1963.
Congo gained independence in 1967 and introduced the Zaire at a ratio of 1,000 francs to 1 Zaire. The currently issued Congolese franc was first issued in 1997, replacing the Zaire at a rate of 100,000 Z: 1 FC. This meant that the new franc was worth 300,000,000,000,000 old francs. Bank Exchange Rates for Congo. The foreign exchange rates for Congolese Franc also known as the ISO code CDF. Send money transfer online with us with the cheapest options.