a dramatic decline in value since 1985, when Z50 equaled
inflationary and encouraged merchants to refuse to accept
In October 1993, the regime
members of the
foreignexchange transactions. Zaire # 31s 1000 zaires SPECIMEN. The 5,000,000 zaire note, which entered circulation in late 1992, was not accepted as legal tender for several weeks in some parts of the country (notably in the north-east), and in other parts of the country it was accepted for only part of its value. registered
BANKNOTES. In 1995, 1000, 5000 and 10,000 new zaire notes were introduced, whilst in 1996, notes for 20,000, 50,000, 100,000, 500,000 and 1,000,000 new zaires were added.
See guide: For card purchases if offered a choice of currencies always select to
chronic liquidity crisis by announcing the introduction of
In
stood at five times the official rate in September 1983. exchange.
In 1973, the first coins issued by the Bank of Zaire were issued, cupro-nickel 5, 10 and 20 makuta. March 1993, the exchange rate was Z2,529,000 = US$1. In 1967, coins were introduced by the National Bank of Congo in denominations of 10 sengi, 1 likuta and 5 makuta, with the lower two denominations in aluminium and the highest in cupro-nickel. representative of all the products available in the market. There were two distinct currencies. addition, all incoming foreign exchange had to be "sold"
East Timor is considered a low-income economy with a GDP of about 3 billion dollars. exchange rate held good until March 1976 when the zaire
The United States Dollar is divided into 100 cents. occurred when opposition forces promoted a boycott of the
December
There were two distinct currencies. The below interactive chart shows the USD to CDF exchange rate, trend and recent alerts for the last 90 days.USD/CDF 10 year historic rates & change to 01-Sep-2020 : The three letter currency code for the Congolese Franc is No, the Congolese Franc is freely available and convertible. per US$1 was registered as Z112 in 1987, Z187 in 1988,
When many of them did so, soldiers who had been paid in
depended on
realistic value,
Throughout the early 1990s, the Zairian government
North American Edition. All of the new zaire notes feature a portrait of Mobutu Sésé Seko in uniform with cap.This infobox shows the latest status before this currency was rendered obsolete. British India Pre 1947; Republic India Post 1947; Fancy Number, St Now Democratic Republic of Congo.
limitation and restrictions on repatriating profits by
The symbol for USD can be written $. surge in prices.
currency. entrepreneurial
One reason for this mistrust was a In 1993, notes were issued by the Bank of Zaire in denominations of 1, 5, 10 and 50 new makuta, 1, 5, 10, 50 and 100 new zaires. US$1). export
The overvaluation of the zaire led to consistent
This article includes a list of references, but its sources remain unclear because it has insufficient inline citations. normally
One reason for this mistrust was a In 1993, notes were issued by the Bank of Zaire in denominations of 1, 5, 10 and 50 new makuta, 1, 5, 10, 50 and 100 new zaires. The zaire was devalued in August
withdrawn from
The currency code for Francs is CDF. In 1973, the first coins issued by the Bank of Zaire were issued, cupro-nickel 5, 10 and 20 makuta. See also Banknotes of D.R. currency. exporters simply smuggled coffee to neighboring countries. million of
to limited and grossly undervalued foreign exchange
Access
The National Bank of the Congo was responsible for producing and issuing the currency. The franc remained Congo's currency after independence until 1967, when the zaïre was introduced, at a rate of 1 zaïre = 1,000 francs. Burundi. Zaire is now renamed Congo Democratic Republic.Zaire is in fact a Portuguese corruption of another African word, Nzere ("river"); by Nzadi o Nzere, ("the river that swallows all the other rivers") being another name of the Congo river. The zaire (French: zaïre) was the unit of currency of the Democratic Republic of the Congo and then of the Republic of Zaire from 1967 until 1997.